Australian pharmacy group Chemist Warehouse has entered talks to buy UK health and beauty chain Boots for a reported $14bn.

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.