Ponda’s Chemists Limited in Cheshire sold to experienced pharmacists in over £1m deal
Specialist business property adviser, Christie & Co, has announced the sale of Ponda’s Chemists Limited in Cheshire to an established Manchester based partnership group.
Ponda’s Chemists is a pair of well-established standard-hour pharmacies, comprising one community pharmacy and one located within a popular shopping precinct. Both sit in locations just half a mile apart from each other serving the town of Winsford, Cheshire.
The pharmacies’ previous owner, Mr Raju Ponda, passed away over 30 years ago and left his estate to be fully managed by his trustees. The board of trustees believed it was the right time to exit from pharmacy ownership and were happy to put their faith in appointing Christie & Co to market their businesses.
Ponda’s Chemists Limited has been purchased by SZ Enterprise Ltd, a group of independent contractors with over 40 years of pharmacy sales and acquisitions experience between them. They are strategically acquiring pharmacies in the local region and felt that these businesses fit their criteria well as they are community based with the potential to develop new services.
Dr Mike Benson, trustee and accountant for Ponda’s Chemists Limited, comments, “We’re delighted to be handing this brilliant pair of pharmacies over to SZ Group who I’m sure, with their wealth of experience and knowledge in the sector, will bring them to further success. On behalf of all trustees, I’d like to wish the new owners all the best.”
The new directors comment, “After a lot of patience and hard work, we achieved our target of purchasing Ponda’s Chemists Limited. We plan to invest in the community by delivering an excellent level of attention and care, and by offering more needed pharmaceutical services to the local community.”
Jon Booth, associate director at Christie & Co, who handled the sale, comments, “Ponda’s Chemists represent a fantastic acquisition for the Manchester partners who already own successfully managed ventures, one of which operates within five miles of this new acquisition, widening their existing branch markers.
“The directors of SZ have shown huge levels of commitment to getting the deal over the line and we wish them and all the staff at Ponda’s Chemists the greatest future success.”