From MoneyWeek · · 1m 10s
Who is Stefano Pessina, the dealmaker behind Boots sale?
Italian dealmaker Stefano Pessina sells Boots for $8.9bn after 20 years of ownership.
In brief
Italian dealmaker Stefano Pessina sells Boots for $8.9bn after 20 years of ownership. Stefano Pessina sold Boots to a Canadian branch of the Weston family for $8.9 billion after 20 years of leading the pharmacy chain. Originally reported by MoneyWeek.
Stefano Pessina's Boots sale
Italian dealmaker Stefano Pessina sold Boots to a Canadian branch of the Weston family for $8.9 billion after 20 years of ownership.
“We are delighted to be passing on a thriving Boots”
Pessina's 20-year Boots journey
Pessina led Boots through ownership changes and makeovers for 20 years before selling it to the Weston family.
“an iconic brand and a British institution”
The sale process
Pessina and his wife Ornella Barra completed over a thousand deals to dominate global pharmacy before selling Boots.
“through more than a thousand deals”
Pessina's dealmaking career
Pessina started in market research, then built a pharmaceutical distribution empire across Italy, France, Greece, and Portugal.
“ability with numbers”
Boots acquisition timeline
Pessina acquired Unichem in 1997, then took Boots private with KKR in 2006 for around £11bn.
“a year later, he teamed up with private-equity firm KKR”
Pessina's current role
Pessina now works 12 hours a day instead of 18, after selling Boots to the Weston family.
“he's now working just 12 hours a day instead of the usual 18”
Pessina's legacy
Pessina is known as the 'Italian alchemist' who turned deals into gold through his 20-year leadership of Boots.
“the Italian alchemist who turned deals into gold”
The essence
Stefano Pessina sold Boots to a Canadian branch of the Weston family for $8.9 billion after 20 years of leading the pharmacy chain.