Walgreens Boots Alliance, Inc. (NasdaqGS:WBA) has kicked off the sales process for its Boots International Limited drugstore unit as fresh buyout firms, including Sycamore Partners Management, L.P., consider bids, said people with knowledge of the matter. The U.S. company is sending out preliminary information on the business to potential suitors ahead of first-round bids due in the coming weeks, the people said, asking not to be identified because the information is private. Sycamore has joined a small group of other buyout firms exploring bids, the people said.

The business could also attract interest from TDR Capital and the Issa brothers the people said. They would be competing with Bain Capital, LP, and CVC Capital Partners Limited, who've teamed up and are considered early favorites, people familiar have previously said. Advent International Corporation and KKR & Co.

Inc. (NYSE:KKR) are also studying potential bids, people said at the time. Advent, KKR Said Among Buyout Firms Studying Bids for Boots Walgreens is also considering a potential initial public offering of Boots if buyout interest is muted, the people said. Deliberations are ongoing, and there's no certainty they will lead to a transaction, the people said.

A representative for Walgreens, Sycamore and TDR declined to comment.