EXCLUSIVE

The Co-operative Pharmacy is "likely" to be sold by the end of the year, C+D has learned.

There had been "significant early expressions of interest" from potential buyers, leading the Co-operative Group to think the pharmacy chain would be sold "during the course" of 2014, a spokesperson told C+D last week (May 9).

Although the group was "not certain" of the outcome of its strategic review into the future of its pharmacies, the interest from buyers reflected the "strength and quality" of the business, the spokesperson added.

In its financial report last month, the Co-operative Group revealed that its 782 pharmacies were not part of its future strategy, with overall sales down £4m to £760m last year.

The Co-operative Group reported "significant" interest in its 782 pharmacies	More on the Co-operative Pharmacy sale Pharmacy ‘not part' of Co-operative's future strategy In mourning for the co-operative approach Pharmacist consortium raises £40m to buy Co-operative Pharmacy
	Overall, the Co-operative Group reported a "disastrous" year, with the worst crisis in the company's 150-year history leading to annual losses of £2.5 billion.

Pharmacists have pledged more than £53 million to buy the pharmacy business as part of the Co-op Consortium, which is unrelated to the Co-operative Group. The consortium would start negotiations to buy the pharmacies once it had secured £60m in pledges, it told C+D last month.

In March, economic analyst Michael Thomas predicted that American retail chains would bid for the Co-operative Group's pharmacies if they were sold. North American retail chains CVS andShoppers Drug Mart could both "make a play" for the pharmacies, Mr Thomas told C+D.

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