Day Lewis snaps up three-branch pharmacy group for undisclosed sum
Day Lewis has bought the Norsworthy pharmacy group based in south-west England for an undisclosed price, adding to its more than 300-branch estate across the UK.
The Norsworthy group encompasses three pharmacies in the south-west of England: Topsham Pharmacy in Topsham, Devon; Glasshouse Pharmacy in Countess Wear, Exeter; and West Hoe Pharmacy in Plymouth.
Combined, the pharmacies dispense around 34,000 items per month, “well above the national average” according to property advisers Christie & Co, who oversaw the sale.
Tony Evans, head of pharmacy at Christie & Co and director Jonathan Board handled the transaction, and said “the sale to Day Lewis was achieved within four months of [it] being agreed”.
The sale “further underpins market appetite for good quality pharmacies”, Mr Evans added.
Day Lewis “delighted” with sale
Day Lewis executive director Sam Patel said the multiple was “delighted to have acquired the pharmacies renowned for their quality and delivery of services in their respective areas”.
Staff previously working for the Norsworthy group will join “the Day Lewis family”, Mr Patel confirmed.
“We look forward to further developing the pharmacies as part of the wider Day Lewis business,” he added.
Its previous owners Tom Walker and Debbie Cox – who bought the business in 2017 and now wish to retire from the pharmacy sector – said they were “extremely pleased to have agreed a sale of the business to Day Lewis”.
“We are confident [Day Lewis] will continue to develop the pharmacies and patient services as we have done over our five years of ownership,” they added.