87-647: Superdrug Stores plc (trading as Superdrug ) is a health and beauty retailer in the United Kingdom, and the second largest behind Boots UK . The company is owned by AS Watson (Health & Beauty UK) Limited which is part of the A.S. Watson Group . It was acquired as part of the buyout of Kruidvat BV in October 2002. The A.S Watson Group is itself part of the Hong Kong conglomerate CK Hutchison Holdings . Superdrug trades from nearly nine hundred shops across
174-441: A BUAV approved retailer, joining several other high street chains in pledging its own brand products will be free from animal testing. All Superdrug own label products carry the leaping bunny cruelty free logo. This does not, however, cover products made by other brands that are sold in the shop. During 2010, Superdrug went into partnership with sister company The Perfume Shop by trialling shop-in-shop concessions. The partnership
261-560: A herb garden (with some plants that Jesse Boot used in his original herbal remedies) in the shape of a goose foot – harking back to Jesse's original shop on Goose Gate, Nottingham . The Boots Museum is now closed; however, historical items are in storage or on display in the reception area of the D90 building. Professor Chris Griffiths' University of Manchester team found the Serum , formerly, No. 7 Refine & Rewind Beauty Serum stimulated
348-429: A market inefficiency , which undervalues the true strength of these stocks. In her 1999 book No Logo , Naomi Klein provides several examples of mergers and acquisitions between media companies designed to create conglomerates to create synergy between them: A relatively new development, Internet conglomerates, such as Alphabet , Google's parent company belong to the modern media conglomerate group and play
435-604: A Word document and contained tracked changes. Following the Guardian reports, Boots announced the departure of UK operations director, Simon Roberts , in June 2016. On 8 January 2018, the BBC broadcast an Inside Out documentary called "Boots: Pharmacists under Pressure?" about the deaths of three patients following dispensing errors. It also featured accounts from three whistleblowers, who alleged that there were staffing issues at
522-471: A chain of forty shops by the beginning of the 1970s. In 1971, The Rite Aid Corporation, an American chemist chain, acquired 49% of the business. By 1981, there were three hundred Superdrug shops in the United Kingdom, and they opened their 11,148 m (120,000 ft) distribution centre and office complex at Beddington Lane near Croydon, Superdrug's head office is still based in Croydon having recently moved to
609-486: A disorienting and demoralizing experience for executives at acquired companies—those who were not immediately laid off found themselves at the mercy of the conglomerate's executives in some other distant city. Most conglomerates' headquarters were located on the West Coast or East Coast , while many of their acquisitions were located in the country's interior. Many interior cities were devastated by repeatedly losing
696-549: A focus in Asia.) In Japan, a different model of conglomerate, the keiretsu , evolved. Whereas the Western model of conglomerate consists of a single corporation with multiple subsidiaries controlled by that corporation, the companies in a keiretsu are linked by interlocking shareholdings and a central role of a bank. Mitsui , Mitsubishi , Sumitomo are some of Japan's best-known keiretsu, reaching from automobile manufacturing to
783-638: A global presence and a diversified portfolio of products and services. Conglomerates can be formed by merger and acquisitions , spin-offs , or joint ventures . Conglomerates are common in many countries and sectors, such as media , banking , energy , mining , manufacturing , retail , defense , and transportation . This type of organization aims to achieve economies of scale , market power, risk diversification , and financial synergy. However, they also face challenges such as complexity, bureaucracy , agency problems, and regulation . The popularity of conglomerates has varied over time and across regions. In
870-553: A handful of locations remained as late as 1993, if not later. Boots products briefly surfaced in Canada when it was sold at the short-lived Target foray into Canada. In 1982, the company opened a new manufacturing plant in Cramlington , Northumberland. In the early 1990s, Boots began to diversify and bought Halfords , the bicycle and car parts business in 1991. The company offered numerous private label products, e.g., offering
957-472: A launch that included a dedicated Freeview and Sky TV channel of the same name, and even redirecting web traffic from boots.com to wellbeing.com In late 2004, Boots sold its laser eye surgery business to Optical Express . In October 2005, a merger with Alliance UniChem was announced by the then chairman, Sir Nigel Rudd . The CEO Richard Baker left, and the new group became Alliance Boots plc. The merger became effective on 31 July 2006. Alliance Boots
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#17327981293051044-788: A lending library department, known as Boots Book-Lovers' Library . Boots diversified into the research and manufacturing of drugs with its development of the Ibuprofen painkiller during the 1960s, invented by John Nicholson and Stewart Adams . The company was awarded the Queen's Award For Technical Achievement for this in 1987. A major research focus of Boots in the 1980s, was the drug for congestive heart failure, Manoplax . The withdrawal from market of Manoplax due to safety concerns in 1993, caused major pressure from investors, and in 1994, Boots divested its prescription drugs division, which had become no longer viable, to BASF . In 2006, it sold
1131-551: A long-term plan to give maximum exposure to both brands, Boots more so in the US and, Walgreens more so in the UK and in China through Boots' presence in that market. The deal gave the option to complete a full merger of the organisations within three years costing an extra $ 9.5bn. Walgreens confirmed on 6 August 2014, that it would purchase the remaining 55% and merge with Alliance Boots to form
1218-475: A longer report on the same day called 'How Boots went Rogue', which told the story from the eyes of a Boots pharmacist talking about working conditions at the company. It also covered the buyout of the company and the owners' financial approach. Four days later it published an article with emails from some pharmacists who had written about how "the chain allegedly compels staff to compromise ethics for targets". The article said "The letters editor believes this may be
1305-401: A low-cost alternative in its shops by October. At the end of January 2018, Boots confirmed that it was now offering the cheaper medication in all of its pharmacies. Throughout the media coverage, a May–July 2017, pricelist from its wholesaler and sister company Alliance Healthcare stated that the "Normal Retail Price inc. VAT" of Levonelle One Step was £12.72. On 25 October 2017, a debate
1392-462: A mass market, renaming it Health and Beautycard . The concept of the card containing a mirror remained but it was redesigned to give a more mature look and feel. The card can be used physically or digitally via the Superdrug mobile app, available on AppStore and Google play. On 2 June 2019, Superdrug released an eight-episode podcast titled 'The Beauty of it All'. KVH Studios worked together with
1479-550: A more central location. This centre closed in July 2007, and the southern distribution operation moved to Dunstable , with the head office moving to new offices in central Croydon in 2017. The northern distribution operates from South Elmsall, Pontefract , West Yorkshire. In 1983, the business was floated on London's Unlisted Securities Market . In March 1987, Superdrug was sold to Woolworth Holdings (now known as Kingfisher plc ) for £57 million. The sale allowed accelerated growth of
1566-427: A multimillion-pound advertising campaign including television advertising, magazine promotion, blogger reviews and a pop up tour around the United Kingdom's largest shopping centres. In December 2007, Superdrug withdrew a women's punch bag following complaints from anti domestic violence campaigners. The man-shaped product encouraged women to insert a photo of a male in the punch bag's face and had an arrow pointing at
1653-423: A new corporate identity (including the introduction of a new star symbol as its logo) – under the banner "the real beauty is the price" – and new larger shops in prime retail locations. Superdrug decided to relocate their head office in 2017, having spent more than 40 years at Beddington Lane. The company relocated to a more central location in Croydon having declared their love for the town, securing their future in
1740-466: A new holding company, Walgreens Boots Alliance Inc. Walgreens and Boots both become subsidiaries of the new company on 31 December 2014. In April 2019, Boots announced it would sponsor the England , Scotland , Wales , Northern Ireland and Republic of Ireland women's football teams in a multi-million pound/euro deal. The deal was to last three years and cover the 2019 FIFA Women's World Cup and
1827-532: A retail website and a loyalty card programme called the Boots Advantage Card. Boots was established in 1849, by John Boot . After his father's death in 1860, Jesse Boot , aged 10, helped his mother run the family's herbal medicine shop in Nottingham , which was incorporated as Boot and Co. Ltd in 1883, becoming Boots Pure Drug Company Ltd in 1888. In 1920, Jesse Boot sold the company to
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#17327981293051914-639: A small slice of many companies in a fund rather than owning shares in a conglomerate. Another example of a successful conglomerate is Warren Buffett 's Berkshire Hathaway , a holding company which used surplus capital from its insurance subsidiaries to invest in businesses across a variety of industries. The end of the First World War caused a brief economic crisis in Weimar Germany , permitting entrepreneurs to buy businesses at rock-bottom prices. The most successful, Hugo Stinnes , established
2001-458: A written response to BPAS, Boots revealed that they were frequently contacted by individuals who disapproved of the dispensing of such medication, which might be viewed as "incentivising inappropriate use", an assertion which campaigners described as "insulting and sexist". BPAS called on the public to boycott the company and email them requesting that they reverse the policy. Following the boycott's launch, lawyers representing Boots alleged that
2088-594: A year in tax as result". 'Boots the Chemists Limited' was re-registered under the name 'Boots UK Limited' on 1 October 2007. Management of all staff was moved to Boots Management Services Limited on 1 July 2010. In June 2012, it was announced that Walgreens , the United States' largest chemist chain, would purchase a 45% stake in Alliance Boots for US$ 6.7 billion. The deal was said to be
2175-402: Is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries. A conglomerate usually has a parent company that owns and controls many subsidiaries , which are legally independent but financially and strategically dependent on the parent company. Conglomerates are often large and multinational corporations that have
2262-523: Is also by Williams and is Grade II listed. The headquarters office building known as D90 is Grade II* and was built to designs by Skidmore, Owings & Merrill in 1966–68. Staff have a restaurant, coffee and snack shops, newsagent, a branch of Boots the Chemist, an opticians branch and cash point situated within landscaped grounds. The grounds include the Millennium Garden, which features
2349-472: Is currently China's largest civilian-run conglomerate by revenue. In South Korea , the chaebol is a type of conglomerate owned and operated by a family. A chaebol is also inheritable, as most of the current presidents of chaebols succeeded their fathers or grandfathers. Some of the largest and most well-known Korean chaebols are Samsung , LG , Hyundai Kia and SK . In India, family-owned enterprises became some of Asia's largest conglomerates, such as
2436-571: The Aditya Birla Group , Tata Group , Emami , Kirloskar Group , Larsen & Toubro , Mahindra Group , Bajaj Group , ITC Limited , Essar Group , Reliance Industries , Adani Group and the Bharti Enterprises . In Brazil the most important conglomerates are J&F Investimentos , Odebrecht , Itaúsa , Camargo Corrêa , Votorantim Group , Andrade Gutierrez , and Queiroz Galvão. In New Zealand, Fletcher Challenge
2523-615: The Nurofen brand to Reckitt Benckiser . The 2006 sale of Boots Healthcare International included everything made by Crookes Healthcare , based on the Nottingham site. In 1968, Boots acquired the 622-strong Timothy Whites and Taylors Ltd chain. Boots expanded into Canada by purchasing the Tamblyn Drugs chain circa 1978. Most Canadian Boots shops were converted to Pharma Plus in 1989, after sale to Oshawa Group , although
2610-633: The Pharmacists' Defence Association stated that company managers were exploiting the NHS by insisting that each outlet carry out medicine use reviews , even if patients did not need them. The NHS paid £28 per review up to a maximum of 400 per shop per year. The Guardian said that the General Pharmaceutical Council was poised to investigate. At the same time as the article about medicine reviews, The Guardian published
2697-795: The Republic of Ireland , and in Britain began rolling out its "next generation" shops, the first of which opened in Uxbridge . These focused on cosmetics and fragrance above all else and used plasma screens throughout the shop. Superdrug announced their intention to create 150 more next generation shops in 2008. Since arriving in Ireland, the brand is now also represented in Douglas on the Isle of Man and St Helier on Jersey. In February 2010, Superdrug became
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2784-470: The UEFA Women's Euro 2021 competitions. In May 2019, Boots announced that it was closing 200+ underperforming shops. Profits for 2019, were £167 million, 47.3% less than in 2018. The company blamed "lower volume and lower revenue item growth and continuing UK government reimbursement pressure". In July 2020, the group announced that it would be cutting 4,000 jobs and shutting 48 optician stores in
2871-507: The United Arab Emirates , while Boots-branded stores throughout Indonesia are operated by PT Mitra Adiperkasa Tbk. The Boots Factory Site, near the Nottingham suburb of Beeston , features a number of listed buildings . This includes the two principal factory buildings, D6 and D10, designed by Sir Owen Williams and built in 1932, and 1935–1938, respectively. Both are Grade I listed. The former fire station of 1938, D34,
2958-652: The United States , conglomerates became popular in the 1960s as a form of economic bubble driven by low interest rates and leveraged buyouts. However, many of them collapsed or were broken up in the 1980s due to poor performance, accounting scandals, and antitrust regulation. In contrast, conglomerates have remained prevalent in Asia, especially in China , Japan , South Korea , and India . In mainland China , many state-affiliated enterprises have gone through high value mergers and acquisitions , resulting in some of
3045-516: The highest value business transactions of all time. These conglomerates have strong ties with the government and preferential policies and access to capital. During the 1960s, the United States was caught up in a "conglomerate fad " which turned out to be a form of an economic bubble . Due to a combination of low interest rates and a repeating bear-bull market , conglomerates were able to buy smaller companies in leveraged buyouts (sometimes at temporarily deflated values). Famous examples from
3132-440: The 1960s include Gulf and Western Industries , Ling-Temco-Vought , ITT Corporation , Litton Industries , Textron , and Teledyne . The trick was to look for acquisition targets with solid earnings and much lower price–earnings ratios than the acquirer. The conglomerate would make a tender offer to the target's shareholders at a princely premium to the target's current stock price. Upon obtaining shareholder approval,
3219-627: The 1980s, General Electric also moved into financing and financial services , which in 2005 accounted for about 45% of the company's net earnings. GE formerly owned a minority interest in NBCUniversal , which owns the NBC television network and several other cable networks . United Technologies was also a successful conglomerate until it was dismantled in the late 2010s. With the spread of mutual funds (especially index funds since 1976), investors could more easily obtain diversification by owning
3306-578: The American United Drug Company . However, because of deteriorating economic circumstances in North America Boots was sold back into British hands in 1933. The grandson of the founder, John Boot , who inherited the title Baron Trent from his father, headed the company. The Boots Pure Drug Company name was changed to The Boots Company Limited in 1971. Between 1898 and 1966, many branches of Boots incorporated
3393-628: The PT400 typewriter, a rebadged Silverette model by Silver Seiko Ltd. of Japan. It also developed the Children's World business of larger out of town superstores in the 1980s, but sold this chain to Mothercare in 1996. Halfords was sold in 2002. Boots Opticians Ltd was formed in 1987, with the acquisition of Clement Clarke Ltd and Curry and Paxton Ltd. Boots Opticians became the UK's second-largest retail optics chain. In 2009, Boots Opticians acquired Dollond & Aitchison , an optician chain that
3480-477: The Superdrug Social and Marketing team, alongside content marketing agency, The River Group, to create and launch an eight-episode series of podcasts, hosted by television and radio presenter Vick Hope, and featuring celebrity guests and industry experts. The podcast took a backstage look at the beauty industry and the issues facing it, covering topics such as how veganism is transforming the beauty world,
3567-402: The UK. Since September 2018, Sebastian James has been a senior vice president of Walgreens Boots Alliance , and president and managing director of Boots. In November 2020, Boots Ireland appointed Stephen Watkins as managing director for Ireland, succeeding Bernadette Lavery who has been appointed director of pharmacy with Boots UK. As of 4th of November 2024, Anthony Hemmerdinger will be
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3654-413: The United Kingdom and Ireland, and also serves Denmark, Finland and Sweden online. The company employs over 14,000. Besides offering health and beauty products online and in shops, there are pharmacies with consultation rooms in over 220 shops, and a further 19 contain nurse clinics. It maintains links with sister companies also owned by A.S. Watson Group: Savers and The Perfume Shop . In 1964, Superdrug
3741-416: The United Kingdom to offer chickenpox vaccination in 58 of its shops, at a cost of £65 per dose, two doses being required, in July 2017. Superdrug Mobile is a mobile virtual network operator launched on 20 June 2018 which operates in the United Kingdom using Superdrug's sister company Three 's network and is exclusive to members of Superdrug's "Health & Beautycard" loyalty scheme. On 1 October 2010,
3828-419: The United Kingdom. Superdrug continued to grow over the next eight years, increasing profitability and market share. The Goldstein brothers would retire from the company by 1990, shortly after its 25th anniversary In 1989, with Alan Smith heading up day-to-day operations shortly thereafter. In 1995, the company began a rebranding programme, which saw it leave behind its discount heritage and move upmarket, with
3915-603: The United States, some of the examples are The Walt Disney Company , Warner Bros. Discovery and The Trump Organization (see below). In Canada, one of the examples is Hudson's Bay Company . Another such conglomerate is J.D. Irving, Limited , which controls a large portion of the economic activities as well as media in the Province of New Brunswick . Some cite the decreased cost of conglomerate stock (a phenomenon known as conglomerate discount ) as evidential of these disadvantages, while other traders believe this tendency to be
4002-420: The brand through utilisation of Kingfisher's surplus high street property portfolio and substantial financial assets. In January 1988, Superdrug acquired Tip-Top, a discount chemist chain which had a large presence in the north of England and Scotland , and Share Drug Stores plc, a southern-based chain. These acquisitions and an aggressive expansion programme saw the chain grow to six hundred outlets throughout
4089-430: The campaign Take Another Look was launched by Superdrug to encourage customers to "Take Another Look" at the company, which featured Gavin & Stacey star Joanna Page who was also brand ambassador. On 7 February 2013, Superdrug launched a new marketing and advertising campaign, "That Superdrug Feeling", featuring staff from their shops. Superdrug's Dare Magazine underwent a major makeover, to bring it in line with
4176-412: The company's "Take Another Look" campaign. The Magazine is distributed in-shop and on the streets of London for free. On 10 February 2011, Superdrug announced that the magazine would be the first customer magazine to use digital watermarking technology. Readers will be able to use their smartphone to view interactive video content, and access exclusive news and tips by scanning digital watermarks embedded in
4263-437: The company's 40th anniversary, the current logo was introduced, retaining the star motif from the previous logo, but modernising it with the addition of a new cursive wordmark. Signage was also changed with the introduction of the new logo, with stores being branded as "Superdrug HealthBeauty", and the website gaining the tagline "Health & Beauty from A.S. Watson", to signify its new ownership. In April 2006, Superdrug entered
4350-409: The company. One of the whistleblowers, who had formerly worked in a patient safety role, stated that Boots had calculated that in excess of £100m additional investment in staffing was required each year in its pharmacies and to meet the company's expectations of its staff. The BBC also published two articles on the same day. A separate article almost three weeks later told the story of a patient who
4437-455: The conglomerate usually settled the transaction in something other than cash, like debentures , bonds , warrants or convertible debentures (issuing the latter two would effectively dilute its shareholders down the road, but many shareholders at the time were not thinking that far ahead). The conglomerate would then add the target's earnings to its earnings, thereby increasing the conglomerate's overall earnings per share . In finance jargon,
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#17327981293054524-467: The end came in January 1968, when Litton shocked Wall Street by announcing a quarterly profit of only 21 cents per share, versus 63 cents for the previous year's quarter. This was "just a decline in earnings of about 19 percent", not an actual loss or a corporate scandal, and "yet the stock was crushed, plummeting from $ 90 to $ 53". It would take two more years before it was clear that the conglomerate fad
4611-402: The end of 2013, starting with shops on Kensington High Street and Oxford Street , and then concentrating on recently refurbished shops. In February 2013, Superdrug ventured into the premium skincare market, by launching a new and exclusive brand called “B”. The brand is cruelty free and vegan. It offers both skincare and make up, and was launched during January to February 2013, accompanied by
4698-478: The equivalent of £93 for the same product. The investigation found that Boots had ordered the product from Alliance Healthcare, a supplier owned by Boots' parent company. In response, a spokesman for Walgreens Boots Alliance rejected accusations of overcharging the NHS and said that the bespoke nature of the orders, often requested at short notice, results in the high cost. Conglomerate (company) A conglomerate ( / k ə ŋ ˈ ɡ l ɒ m ə r ə t / )
4785-771: The examples are Adamjee Group , Dawood Hercules , House of Habib , Lakson Group and Nishat Group . In the Philippines , the largest conglomerate of the country is the Ayala Corporation which focuses on malls , bank , real estate development , and telecommunications . The other big conglomerates in the Philippines included JG Summit Holdings , Lopez Holdings Corporation , ABS-CBN Corporation , GMA Network, Inc. , MediaQuest Holdings , TV5 Network, Inc. , SM Investments Corporation , Metro Pacific Investments Corporation , and San Miguel Corporation . In
4872-419: The groin stating "kick him here". The ManKind Initiative , a domestic violence charity, said it was disgraceful that a national retailer like Superdrug should be openly selling products encouraging domestic violence against men . Following the complaints, the retailer withdrew the product and promised to donate any profits from sales of the item to the charity. Superdrug became the first high street retailer in
4959-719: The headquarters of corporations to mergers, in which independent ventures were reduced to subsidiaries of conglomerates based in New York or Los Angeles. Pittsburgh, for example, lost about a dozen. The terror instilled by the mere prospect of such harsh consequences for executives and their home cities meant that fending off takeovers, real or imagined, was a constant distraction for executives at all corporations seen as choice acquisition targets during this era. The chain reaction of rapid growth through acquisitions could not last forever. When interest rates rose to offset rising inflation, conglomerate profits began to fall. The beginning of
5046-404: The largest haul of mail he has ever received about a single article. Others rang in." There were two further follow-up articles in the days following. The Guardian subsequently noted a letter purporting to be from an "independent pharmacist" criticising its stance on the issue which it identified as having been edited and amended by one of the firm's vice-presidents. The letter was emailed as
5133-663: The latest trends in skincare, and the influence of drag culture and makeup on the high street. Boots UK Boots UK Limited (formerly Boots the Chemists Limited ) is a British health and beauty retailer and pharmacy chain that operates in the United Kingdom . It also operates internationally, including Ireland , Italy , Norway , the Netherlands , Malta , Thailand and Indonesia . The parent company, The Boots Company plc, merged with Alliance UniChem in 2006 to form Alliance Boots . In 2007, Alliance Boots
5220-654: The launch of a new app for customers to track their Superdrug Loyalty Points. This app eventually became the Superdrug Shopping App, which allows customers to order retail items from Superdrug branches online. On 22 March 2018, Superdrug opened their first vegan only pop-up shop at Shoreditch ’s Boxpark . Superdrug said it was in response to increased demand for plant based and cruelty free beauty products. The shop showcases Superdrug's own brand beauty and cosmetic products, and also exclusive branded products that are friendly to vegans. In August 2018, Superdrug
5307-487: The magazine. On 11 May 2011, Superdrug launched their first reward card called The Beautycard . The card was launched as part of the Take Another Look campaign, which has been at the heart of the company's marketing strategy since October 2010. On 27 May 2011, Superdrug announced they had signed up one million customers to the scheme. In 2015, Superdrug adapted their loyalty card in order to appeal to more of
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#17327981293055394-503: The most powerful private economic conglomerate in 1920s Europe – Stinnes Enterprises – which embraced sectors as diverse as manufacturing, mining, shipbuilding, hotels, newspapers, and other enterprises. The best-known British conglomerate was Hanson plc . It followed a rather different timescale than the U.S. examples mentioned above, as it was founded in 1964 and ceased to be a conglomerate when it split itself into four separate listed companies between 1995 and 1997. In Hong Kong, some of
5481-569: The new Managing Director of both the UK and Ireland. Boots sell the following products and services: As of 2023, Walgreens Boots Alliance run 2,561 Boots branded stores across three countries: The Alshaya Group , a franchise operator based in Kuwait , operates a number of Boots-branded stores throughout the Middle East , including in Bahrain , Kuwait , Oman , Qatar , Saudi Arabia and
5568-652: The new businesses they had recently purchased, and by the mid-1970s most conglomerates had been reduced to shells. The conglomerate fad was subsequently replaced by newer ideas like focusing on a company's core competency and unlocking shareholder value (which often translate into spin-offs ). In other cases, conglomerates are formed for genuine interests of diversification rather than manipulation of paper return on investment. Companies with this orientation would only make acquisitions or start new branches in other sectors when they believed this would increase profitability or stability by sharing risks. Flush with cash during
5655-549: The new company, Walgreens Boots Alliance , on 31 December 2014. Boots is one of the largest retailers in the UK and Ireland, both in terms of revenue and the number of shops. It has 2,200 shops across the United Kingdom and Ireland ranging from local pharmacies to large health and beauty shops in 2022. Its shops are primarily located on the high streets and in shopping centres. It sells many health and beauty products, and also provides optician and hearing care services within shops and as standalone practices. Boots also operates
5742-461: The online complaint form created by BPAS had resulted in a "torrent of abuse" to five of Boots' senior managers and that BPAS had facilitated and tacitly encouraged harassment by naming individual staff members on the form. In response, BPAS stated that Boots had "failed to provide any evidence of abuse sent through the campaign". In November 2017, more than 130 Labour politicians signed a letter criticising Boots' failure to fulfil its promise to stock
5829-714: The production of electronics such as televisions. While not a keiretsu, Sony is an example of a modern Japanese conglomerate with operations in consumer electronics , video games , the music industry , television and film production and distribution , financial services , and telecommunications . In China, many of the country's conglomerates are state-owned enterprises , but there is a substantial number of private conglomerates. Notable conglomerates include BYD , CIMC , China Merchants Bank , Huawei , JXD , Meizu , Ping An Insurance , TCL , Tencent , TP-Link , ZTE , Legend Holdings , Dalian Wanda Group , China Poly Group , Beijing Enterprises , and Fosun International . Fosun
5916-611: The production of fibrillin-1 and appeared to smooth out wrinkles, (published in the British Journal of Dermatology). In 2007, an independent investigation by the BBC's Horizon programme caused a run on a product in the same product range after it was found to be the only one to have a beneficial effect. Richard Weller, an Edinburgh University dermatologist, said it was unlikely to be as effective as prescription retinoids. In 2009, Boots Superintendent Pharmacist Paul Bennett
6003-549: The same patient, Richard Lee, who subsequently died. The error was found at a coroner's inquest to have contributed to his death. In July 2017, the British Pregnancy Advisory Service (BPAS) revealed that Boots was selling emergency contraceptive medication at four times the cost price and had refused requests to join rival pharmacy retail chains, including Superdrug and Tesco , which had agreed to cease profiting financially in this way. In
6090-497: The town, with a bigger and more modern head office to develop the future of the business. Facing increasing pressure from supermarkets and new discount chains, and following Kingfisher's failed merger attempt with Asda (which resulted in Walmart acquiring the latter chain), in July 2001, Superdrug was sold to Kruidvat , a chemist operator from continental Europe, to allow Kingfisher to focus on its DIY and electrical chains. It
6177-406: The transaction was " accretive to earnings." The relatively lax accounting standards of the time meant that accountants were often able to get away with creative mathematics in calculating the conglomerate's post-acquisition consolidated earnings numbers. In turn, the price of the conglomerate's stock would go up, thereby re-establishing its previous price-earnings ratio, and then it could repeat
6264-938: The two parties, and by inference appeared to mean that the buyer had authority to enter into such a contract. In April 2020, it was announced that Superdrug was rolling out a new Pharmacy app to its stores across the UK, in partnership with Healthera. The app allows Superdrug patients to order prescriptions and book services online. Since 2021, the company sponsors the UK-wide medicine packet recycling programme under which used medicine blister packets can be handed in at 195 Superdrug branches (those with in-store pharmacies), for processing by TerraCycle . In February 2012, Superdrug went into partnership with Pro Skin Clinics, which enabled Superdrug to offer specialist skincare clinics in their shops. Treatments on offer range from laser hair removal to facials. Superdrug planned to have fifty clinics by
6351-425: The well-known conglomerates include Jardine Matheson (AD1824), Swire Group (AD1816), (British companies, one Scottish one English; companies that have a history of over 150 years and have business interests that span across four continents with a focus in Asia.) C K Hutchison Whampoa (now CK Hutchison Holdings ), Sino Group , (both Asian-owned companies specialize business such as real estate and hospitality with
6438-668: The whole process with a new target. In plain English, conglomerates were using rapid acquisitions to create the illusion of rapid growth. In 1968, the peak year of the conglomerate fad, U.S. corporations completed a record number of mergers: approximately 4,500. In that year, at least 26 of the country's 500 largest corporations were acquired, of which 12 had assets above $ 250 million. All this complex company reorganization had very real consequences for people who worked for companies that were either acquired by conglomerates or were seen as likely to be acquired by them. Acquisitions were
6525-476: Was bought by Kohlberg Kravis Roberts and Stefano Pessina , taking the company private, and moving its headquarters to Switzerland , making it the first-ever FTSE 100 company to be bought by a private equity firm. In 2012, Walgreens bought a 45% stake in Alliance Boots, with the option to buy the rest within three years. It exercised this option in 2014, and as a result Boots became a subsidiary of
6612-561: Was criticised for charging excessive prices for low-value products supplied to the NHS : in one case, it was found that the pharmacy was billing in excess of £1,500 for a moisturiser which normally retailed at less than £2. In May 2018, a further investigation by The Times found that on at least five occasions between 2013 and 2017, Boots had charged over £3,200 for a medicinal mouthwash used to treat mouth ulcers in chemotherapy patients, in comparison to an independent supplier which had charged
6699-462: Was formed in 1981 from the merger of Fletcher Holdings , Challenge Corporation, and Tasman Pulp & Paper, in an attempt to create a New Zealand-based multi-national company. At the time, the newly merged company dealt in construction, building supplies, pulp and paper mills, forestry, and oil & gas. Following a series of bungled investments, the company demerged in the early 2000s to concentrate on building and construction. In Pakistan , some of
6786-466: Was founded in 1750. Boots diversified into dentistry in 1998, with a number of shops offering this service. Boots sold the Do-It-All DIY chain to Focus DIY in 1998. Boots also made a venture into "Wellbeing" services offering customers treatments ranging from facials , homoeopathy , and nutritional advice to laser eye surgery and Botox but these services were abandoned in 2003, despite
6873-466: Was given the wrong medicine in December 2017 by a "frazzled" pharmacist. The patient said there was clearly a staffing problem. Boots had told the BBC documentary makers that there had been no further patient deaths associated with dispensing errors since 2015. However, in July 2018, it was reported that an error had occurred in 2016 in which two lots of the same medicines were dispensed and supplied to
6960-602: Was held in the House of Commons about pharmacists' mental health and the support that employers give to employees. Much of the discussion concerned the suicide of a Boots pharmacist, Alison Stamps, in May 2015, and Boots' response was criticised. Part of a letter from Alison Stamps' parents was read out by MP Kevan Jones , which said: "It is clear that Alison was a victim of corporate greed and collateral damage by an uncaring company intent only on its own agenda." In February 2018, Boots
7047-765: Was incorporated under the name Leading Supermarkets Limited by the Goldstein brothers in London, both of whom had experience working in the groceries retail industry. Later that year the business adopted the present name. The first Superdrug shop opened in Putney , London on 26 April 1966. By 1968, there were three shops trading in Putney, Croydon and Streatham. In the same year Superdrug acquired its first distribution centre , in Wimbledon. The chain grew rapidly, and expanded to
7134-489: Was interviewed by the House of Commons Science and Technology Committee about the company's sale of homeopathic medicines. He told the committee that the company had no evidence to suggest that homeopathic medicines are efficacious but Boots sold them anyway, for reasons of " consumer choice ". The comments attracted media attention. In 2010, protesters staged a mass homeopathy "overdose" outside Boots shops. In April 2016,
7221-487: Was on its way out. The stock market eventually figured out that the conglomerates' bloated and inefficient businesses were as cyclical as any others—indeed, it was that cyclical nature that had caused such businesses to be such undervalued acquisition targets in the first place —and their descent put "the lie to the claim that diversification allowed them to ride out a downturn." A major selloff of conglomerate shares ensued. To keep going, many conglomerates were forced to shed
7308-563: Was purchased by Kohlberg Kravis Roberts and Stefano Pessina , the deputy chairman of the company, in April 2007 for £11.1 billion, taking the company private and beating a rival bid from Guy Hands 's Terra Firma Capital Partners . This was the first ever instance of a FTSE 100 company having been bought by a private equity firm. In June 2008, the group headquarters were moved to Zug, Switzerland . According to John Ralfe, Boots' former head of corporate finance, "the UK has lost about £100m
7395-625: Was restructured as a public limited company on 24 July, becoming Superdrug Stores plc, and Kruidvat was subsequently sold to A.S. Watson , the retail and manufacturing business of the Hong Kong conglomerate CK Hutchison Holdings , formally Hutchison Whampoa , in November 2002. A.S. Watson is also the parent company of Savers, the United Kingdom's number three chemist chain. Subsequently, several of Superdrug's smaller shops were converted into Savers, and approximately three hundred Savers shops were converted into branches of Superdrug. In 2004, during
7482-417: Was the subject of a blackmail attempt using data obtained from its website via credential stuffing . Superdrug lost a court case in December 2019 resulting from words in an email issued by the company's buyer, "Please go ahead with the below", referring to supplier Athena Brand's proposals to supply a minimum quantity of Nature's Alchemist products. The words were interpreted as creating a contract between
7569-462: Was tried in eleven shops of Superdrug, including; Aylesbury, Milton Keynes, Bury, Glasgow, Westfield London and Kensington High Street. In January 2018, Superdrug were recognised by the Institute of Customer Service, placing fourth in the United Kingdom for Customer Satisfaction (UKCSI), with Yorkshire Bank in third, First Direct second, and Amazon first. In September 2015, Superdrug announced
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