“This [acquisition] further supports our core business that distributes pharmaceuticals to over 1,800 independent pharmacies daily across the UK and Ireland,” director Pritesh Sonpal said in a statement last week (May 1).
The wholesaler already owns the pharmacy chains Knights and Norchem. Its latest purchase brings the total number of UK pharmacies operating under Lexon to 67, Mr Sonpal said.
Last month, Lexon UK director and Knights Pharmacy managing director Nitin Sodha was appointed chair of the National Pharmacy Association (NPA).
C+D understands that there are no immediate plans to change the name of the Vittoria Healthcare pharmacies, and that they will operate as a subsidiary of Lexon UK. There is one remaining Vittoria Healthcare branch that the wholesaler has not purchased.
“Acquisitive growth strategy”
The Vittoria Healthcare acquisition was financed by Natwest and Lloyds Banking Group for an undisclosed amount. Natwest relationship director Richard Parks said: “We look forward to continuing our relationship with the management team to deliver the acquisitive growth strategy of the business.”
Tom Horton, relationship director at Lloyds, said the bank had provided “a competitive funding package”.
Lexon UK did not reply to C+D's request for further comment at the time of going to press.