The parent company for Boots confirmed that pharmaceutical wholesaler AmerisourceBergen will acquire the majority stake of the business for $6.28bn (£4.62bn) in cash and 2 million AmerisourceBergen shares.

In addition, the two companies have struck a commercial partnership, which will extend their US distribution deal by three years to 2029.

Alliance Healthcare UK, which is responsible for distributing medicines from sites in Beeston, Nottinghamshire, and Weybridge, Surrey, will also continue to act as a distribution partner until 2031, despite the sale.