LloydsPharmacy to Acquire 281 Pharmacies in Sainsbury's Deal

Sainsbury's has accepted an offer to sell its pharmacy business to LloydsPharmacy in a deal worth £125 million.

Celesio AG's LloydsPharmacy is set to acquire 281 pharmacies, including 277 in-store pharmacies and 4 hospital pharmacies, in a £125 million deal with Sainsbury's. As part of the "strategic partnership", which is expected to be completed by the end of February 2016, LloydsPharmacy will rebrand all pharmacies and pay commercial annual rent to Sainsbury's for each location.

Mike Coupe, Sainsbury's chief executive, said:

"Pharmacy services are incredibly popular with Sainsbury's customers and we are delighted to be teaming up with LloydsPharmacy to develop our offer.

"Working together with a specialist operator like LloydsPharmacy will enable us to grow and extend our pharmacy services to customers, whilst realising value for shareholders today from the pharmacy business we have grown organically over the last 20 years."

A joint statement issued by Celesio AG and Sainsbury's stated the deal will allow customers to benefit from an enhanced pharmacy service with all the added benefits of accessible parking, flexible opening hours and convenient locations of Sainsbury's stores.

If you're looking to buy, sell or merge a pharmacy business, contact our pharmacy acquisition solicitors on 0161 720 7200 for advice.

Ross Legal

Pharmacy Acquisition Solicitors