Chief executive Mario Verrocchi has admired the British pharmacy chain for more than four decades. But any deal to buy the UK group would be laden with risks.

ASX-listed Sigma Healthcare is looking at Boots alongside other bidders including Canada’s wealthy Weston family, the report said.

It would see Chemist Warehouse’s owner lock horns with Canada’s wealthy Weston family, which owns the grocery chain Loblaws and the pharmacy chain Shoppers Drug Mart.