Boots has been sold in a $8.9bn (£6.7bn) deal to the holding company of Canada's billionaire Weston family.
Wittington Investments said on Wednesday it had agreed to buy the retailer from US private equity firm Sycamore Partners.
Sycamore Partners had owned the retailer for only 18 months after taking over from its previous owner.
The deal covers Boots' retail operations in the UK and Ireland, Boots Opticians, No7 Beauty Company and its Thailand and franchised businesses.
Galen Weston, chairman of Wittington, said the firm played "a vital role in everyday life across the UK and Ireland".
The deal is expected to be completed early next year.
Boots encountered challenges in recent years, including growing debt and changes in shopping habits that have led to more people buying cheaper products online.
However, Galen Weston, who will become chairman of Boots, indicated that this ownership would pursue different plans.
He said: "We see a meaningful opportunity to make a great business even better through stable long-term ownership, further capital investment, and the renewed operating focus required to serve customers with excellence for generations to come."
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