First-time triumph
A first-time buyer has acquired two Liverpool pharmacies located within less than a mile of each other through a sale handled by Christie & Co.
Richard Clitherow Pharmacy dispenses an average of 10,500 items a month, while M Saleem Dispensing Chemists dispenses 3,900.
Read more: Pharma’s Market: First-time buys and the strength of the Midlands
The Saleem family have owned the branches for decades and are now looking to retire. They sold to “enthusiastic” first-time buyer Faraz Cheema of Vital Meds Liverpool Ltd.
Christie Finance director Alena Ray said “securing funding for a first-time buyer can be challenging”, and that the team worked closely with Cheema to “structure a funding solution that supported his plans for the businesses”.
Valley ventures
Knights Pharmacy has expanded its pharmacy footprint into the rolling hills of South Wales through an acquisition of 24 premises across the region.
The Redditch-based independent pharmacy group secured an eight-figure funding package from HSBC UK last year, allowing them to grow their portfolio of branches from 54 to 78.
All 240 jobs across the 24 branches have been safeguarded, with Knights also taking on an additional 200,000 patients as a result of the purchases.
Read more: Pharma’s Market: Dynamic duos, triumphant trios and a dispensing dynamo
The funding package has allowed the group to refurbish its branches and modify services, with all new stores benefiting from its automated dispensing hub.
More than 26 independent prescribers are working across the newly acquired Welsh branches, with HSBC UK’s relationship director Amit Kattri saying Knights Pharmacy is a “strong example of what ambitious businesses providing critical public services can achieve with the right support”.
Might of the Midlands
Christie & Co is demonstrating the might of the Midlands through the successful sale of two Derbyshire pharmacies.
Wilsons Pharmacy in Oakwood, which dispenses an average of 11,600 items each month and is equipped with a 24/7 automated prescription point, was bought by Arun Gande of Arks Dispensary Ltd.
Former owner B J Wilson owned and operated six pharmacies across the Midlands, with individual branches put on the market as part of the owner’s retirement plans.
Read more: Buying + Selling: DSP sale, high demand, and a quickfire sale
A second Wilson’s branch in Castle Gresley was also sold in October to Sunny Jalaf, who also operates KD Pharmacy in Birmingham.
Located on a retail parade within the tranquil Derbyshire village, the pharmacy dispenses an average of 6,800 items per month and offers Pharmacy First and vaccination services.
Carl Steer, director at Christie & Co assisted in the sale of both branches and said they attracted high interest, adding that “pharmacy sales across the East Midlands continue to attract offers from a range of would-be purchasers with most opportunities achieving a sale within just an eight-week window”.
Seaside sales
Sun, sand and Seaton Pharmacy.
This South Devon pharmacy and travel clinic has been sold through Hutchins Consultants, in a sale described by seller Sitchel Patel as “fast-paced”.
The former Lloyds Pharmacy dispenses 15,575 items per month and is located on the high street of the picturesque seaside town of Seaton.
Strategy in Scotland
Townhead Pharmacy, located in the Scottish Lowlands just an hour from Glasgow, has been sold following a strategic off-market sale through Hutchings Consultants.
The large branch dispenses an average of 18,500 items each month and the sale included the freehold for the pharmacy premises and the adjoining parade of retail units.
