Trio of Midlands pharmacies sold to Peak Pharmacy group
Specialist business property adviser, Christie & Co, has announced the sale of Shires Pharmacies Limited, the operator of three pharmacies; two in North Nottinghamshire and one in North East Derbyshire.
The pharmacies – Springs Pharmacy, Shire Pharmacy, Market Pharmacy – occupy two health centre adjacent/integrated locations and a high street location, and all benefit from standard hours contracts and above average dispensing volumes.
Having successfully built and operated the pharmacies since 2002, Shires Pharmacies Limited decided to sell the three sites to enable its Directors to semi-retire and focus on their two remaining pharmacies in South Yorkshire.
Following a short and confidential sales process which generated multiple offers, the pharmacies have been sold to Peak Pharmacy, one of the largest independent community pharmacy groups in the UK.
Speaking on behalf of Shires Pharmacies Limited, Garry Myers comments, “Having known the Peak Pharmacy business for many years, we are pleased to see the pharmacies transfer to a like-minded operator and are confident that they will go from strength to strength under their new ownership.”
Speaking on behalf of Peak Pharmacy, newly appointed managing director, Joe Cattee, comments, “We are delighted to have acquired the three pharmacies, further enhancing our trading profile across the area. We look forward to integrating the pharmacies into Peak Pharmacy as well welcoming the Shires team into the Peak family.”
Carl Steer, director – medical at Christie & Co, who handled the sale, comments, “From the outset, Shires Pharmacies Limited generated strong interest, with several group offers received, further endorsing the fact there is a continued appetite for well-performing pharmacies across the region.”
The three pharmacies were sold for an undisclosed price.
