South Yorkshire group acquisitions creates one of UK’s largest pharmacy groups
Specialist business property adviser, Christie & Co, has announced the sale of two independent pharmacy businesses in South Yorkshire to Leicester based group, Mr Pickford’s, through a management buyout supported by Connection Capital LLP.
The sale comprises a total of 14 pharmacies from two pharmacy groups, JM McGill Limited and D & R Sharp (Chemists) Limited, making Mr Pickford’s one of the top 30 groups in the UK by size.
With dispensing volumes ranging from circa 5,500 items to 15,600 per month, JM McGill operated 11 pharmacies across the greater Doncaster area. Similarly, D & R Sharp (Chemists) Limited operated three pharmacies generating a combined dispensing volume of circa 25,000 per month.
Chief Operating Office of Mr Pickford’s, Mr Mark Stephenson, comments, “We are delighted to have secured the purchase of JM McGill Limited and D &R Sharp (Chemists) Limited, two longstanding and successfully operated pharmacy businesses in and around Doncaster. In taking over the pharmacies we will look to build on the already strong reputation the businesses enjoy by providing further investment, and by developing a range of new services to benefit existing and new customers alike.”
Mr Jonathan McGill of JM McGill Limited, comments, “I am pleased to have concluded the sale of the pharmacies to Mr Pickford’s. Mr Pickford’s Group shares strong patient focused values with McGills and I am looking forward to joining them as a community pharmacist in their team. Additionally, Mr Pickford’s have a very clear vision and strategy to further enhance the trading profile of each pharmacy. I shall not be retiring and am looking forward to seeing the pharmacies go from strength-to-strength under their new ownership and guidance.”
Mrs Rosemarie and Mr David Sharp of D & R Sharp (Chemists) Limited comment, “We are pleased to have concluded the sale of our pharmacies to Mr Pickford’s, ensuring a bright future for both our hardworking staff and the pharmacies. We wish Mark and team well with the integration of the pharmacies into their wider group and look forward to seeing them develop further.”
Tony Evans, Head of Pharmacy at Christie & Co, and Jon Booth, Associate Director at Christie & Co, handled the pharmacy sales. Mr Evans comments, “We are delighted to see both sales conclude, a culmination of significant efforts by all concerned to get them over the line. The sales further underpin the appetite of private equity in the pharmacy market, something we expect to see more of in months to come. With 80 pharmacies already sold through 65 completions in the first six months of 2021, along with the continued appetite for opportunities, we are confident of an equally strong second half to the year.”
JM McGill Limited and D & R Sharp (Chemists) Limited were sold to Mr Pickford’s for an undisclosed price.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com
Contact the agent:
Tony Evans, Head of Pharmacy
P: 07721 884 386 or E: tony.evans@christie.com
