Essex-based group buys pharmacies from chain in north of England
A pharmacy chain in the north of England has sold all of its pharmacies to a group based in Essex.
Allcures, which has 32 branches, completed a deal for an undisclosed fee to buy the pharmacies in Greater Manchester, Warrington, Halifax and Rochdale from the Hub Pharmacy.
Christie and Co, who brokered the deal, said the branches, which are situated in health centres or close to GP surgeries, “offer significant potential for growth.” It also claimed more than 60 per cent of the pharmacies have generated dispensing volumes “significantly ahead of the industry average in England.”
“We are pleased to have completed the sale to Allcures plc, a group that shares the same vision and ethos we have built over the last seven years. (We) look forward to working with the Allcures team in continuing the development of the business,” said Andrew Butterworth, a financial director at the Hub Pharmacy.
A spokesperson for Allcures said: “We are delighted to have acquired the Hub Pharmacy Limited, delivering on our strategy to develop our service offering into the north of England.
“The Hub Pharmacy has a strong reputation for delivering a quality service across all of its settings, something we are keen not only to continue but enhance in the years to come. We look forward to welcoming the Hub team into the Allcures family.”