KKR's Alliance Boots circles Swedish pharmacies

KKR-backed Alliance Boots is reportedly interested in acquiring a portfolio of pharmacies being sold by Apoteket, which is owned by the Swedish state.

According to Swedish press, a number of other private equity firms have also circled the pharmacies, such as Altor, IK Investment Partners, 3i and EQT. Other interested parties include strategic investors Celesio, Tamro, and Oriola.

The pharmacies are reported to generate a turnover of approximately SEK 20bn. The Swedish Government plans to divest about 616 out of the total 946 branches. The auction is expected to start in the summer.

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