Farmacias Benavides Announces Definitive Agreement to Be Acquired by Farmacias del Ahorro

MONTERREY, N.L., Nov. 13, 2026 /PRNewswire/ -- Farmacias Benavides (the "Company") today announced that its controlling shareholder, The Boots Group, has entered into a definitive agreement to sell the Company to Farmacias del Ahorro. The Boots Group is majority owned by Sycamore Partners, in partnership with Stefano Pessina and his family.

Upon its completion, this transaction will unite two iconic, highly complementary pharmacy and health service providers under one umbrella, expanding the combined company's total footprint to more than 3,000 stores across Mexico. Together, the companies will create an enhanced nationwide pharmacy and health services offering, rooted in deep care for the health and prosperity of Mexicans at affordable prices.

The completion of this transaction will mark a historic homecoming, returning a cornerstone of national retail pharmacy to Mexican ownership and signaling Farmacias del Ahorro's profound confidence in Mexico's domestic market, its people, and its long-term growth. Farmacias del Ahorro is fully committed to carrying forward the esteemed legacy of the Benavides Family, uniting our strengths to bring more healthcare, free medical consultations, and greater savings to Mexican families.

"This agreement marks an exciting new chapter for Farmacias Benavides, our team members and the customers and communities we serve. For more than 100 years, Benavides has been built on trust and care, and in Farmacias del Ahorro we have found a partner that shares our values and our commitment to the health of Mexicans. We look forward to continuing to build on the momentum our teams have delivered and create even more opportunities for growth," said Mauricio González, Managing Director of Farmacias Benavides.

"For over three decades, our long-term vision has been to invest, grow, and build capabilities that directly improve the lives of Mexican families. The acquisition of Farmacias Benavides is a strategic milestone that reaffirms this commitment to our country. We have always believed that corporate growth is only truly meaningful when it serves society. Through this landmark investment, we will secure and strengthen a world-class healthcare platform that will proudly serve Mexico for generations to come," said Antonio Leonardo Castañón, Co-Founder and President of Grupo Farmacias del Ahorro.

"This acquisition will be a historic milestone that allows us to bring Farmacias del Ahorro's 35-year legacy of accessible care to even more Mexican families. Today, our commitment is demonstrated through massive, tangible impact: providing over 1 million free medical consultations, distributing more than 500,000 free essential medicines through our loyalty program, and completing more than 800,000 free home deliveries each month. Upon completion of this transaction, we will leverage the combined strengths of both organizations to expand our reach, innovate our services, and honor the trusted legacy of Farmacias Benavides. Our growth will directly translate into what Mexican families need most: greater healthcare access, better services, and deeper savings," said Rafael Selvas Silva, Chief Executive Officer of Farmacias del Ahorro.

"Farmacias Benavides is a cherished Mexican brand with a century-long legacy of providing top-quality products, services and care for Mexican families. We believe that Farmacias del Ahorro is the right partner to build upon this foundation. We are grateful to Mauricio and the entire Benavides team for their continued dedication to the business as they embark on this next chapter," said Dary Kopelioff, Managing Director of Sycamore Partners.

"Farmacias Benavides has been an important part of our Group for more than a decade. I am immensely proud of what we have achieved together to transform the business and prepare it for future growth. I would particularly like to thank our Mexican colleagues for their dedication and contribution to this success. I am confident that, under its new owners, Farmacias Benavides will continue to realize its considerable potential in the years ahead," said Ornella Barra, Chairperson of The Boots Group.

The transaction is subject to customary closing conditions, including regulatory approvals. Until the transaction closes, Farmacias Benavides and Farmacias del Ahorro will continue to operate as separate and independent companies.

About Farmacias Benavides
Founded more than 100 years ago, Farmacias Benavides is one of Mexico's leading pharmacy retailers and a trusted brand among Mexican consumers. The Company operates more than 1,100 stores and more than 450 primary care clinics, with a strong presence in the North, East and Center of Mexico. Its omnichannel platform combines its physical store network with a growing digital channel, a loyalty program and portfolio of own-brand products. For more information on Farmacias Benavides, visit www.benavides.com.mx.

About Farmacias del Ahorro
Founded in 1991, Farmacias del Ahorro is one of Mexico's largest pharmacy chains, with approximately 2,000 stores nationwide, all of which offer free medical consultations and other free healthcare services. The company provides more than one million free medical consultations per month, gives away nearly 500,000 medicines monthly through Monedero del Ahorro, and fulfills approximately 800,000 free home-delivery orders each month. It also operates an Ecommerce & Marketplace and Monedero del Ahorro loyalty program, which has more than 20 million active users. For more information, visit www.fahorro.com.

About The Boots Group
The Boots Group includes pharmacy-led health and beauty retail businesses globally, along with a pharmaceutical wholesale operation in Germany. Through trusted brands, including Boots, No7 Beauty Company and Farmacias Benavides, the company focuses on helping people look and feel their best by delivering convenient high-quality healthcare and retail services. The Boots Group's pharmaceutical wholesale business in Germany operates under the Alliance Healthcare Deutschland and GEHE brands and supports over 11,000 pharmacies nationwide through modern logistics and digital healthcare services.

About Sycamore Partners
Sycamore Partners is a private equity firm based in New York founded in 2011. The firm specializes in consumer, distribution and retail-related investments and partners with management teams to improve the operating profitability and strategic value of their business. With approximately $18 billion of assets under management, Sycamore Partners' investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds. For more information, visit www.sycamorepartners.com.

Advisors
Goldman Sachs is serving as financial advisor and Galicia Abogados, S.C. is serving as legal advisor to Farmacias Benavides. UBS Securities LLC and Lexham Ventures LLC are serving as financial advisors and Mijares, Angoitia, Cortés y Fuentes, S.C. is serving as legal advisor to Farmacias del Ahorro.

Media Contacts:
Farmacias Benavides
Enrique Hinojosa
[email protected]  

Farmacias del Ahorro
Ana Karina Arredondo Hinojosa
+52 811-503-0311
[email protected]

Sycamore Partners
Michael Freitag and Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher
+1-212-355-4449
[email protected]

SOURCE Farmacias Benavides