Independent pharmacy group Cohens Chemist has acquired a group of eight pharmacies trading as Whittle Pharmacies located across the Northwest of England.
The group comprises Hootons Pharmacy and Ladybridge Pharmacy in Bolton, Pomfret Pharmacy, Smithsons Pharmacy, Ribbleton Pharmacy and Whittlebrook Pharmacy in Preston, Smiths Pharmacy in Lytham, and Whittlebrook Pharmacy in Chorley. Together, they dispense more than 65,000 items monthly. The pharmacies will all be refurbished and rebranded.
The group has been family-owned and operated by brother and sister duo, Umesh and Vil Patel, for 27 years and was brought to market to allow them to retire.
Cohens Chemist operates more than 200 branches in the UK.
Umesh and Vil Patel stated: “When we started the pharmacy business 27 years ago, our intentions were to run a great pharmacy business and to look after our patients as we would want our parents to be looked after. We wanted to enjoy the journey and to try to aim for an earlier retirement. We were blessed in having the most amazing work colleagues and patients, and many of our colleagues are still with us from the beginning, with others joining the family along the way. We retire, leaving a part of ourselves and a solid pharmacy business. The new owners are very similar to us, and we know that they share the same vision for pharmacy.”
Colin Caunce, director, estates and business development for Cohens Chemist, said: “[We] look forward to continuing the excellent community care built over the past 27 years. These are well-established local pharmacies, and our priority is to ensure patients continue to receive the same trusted service.”
Business property advisor Christie & Co facilitated the sale.
Jon Booth, director, pharmacy at Christie & Co, said: “The marketing of the eight pharmacies drew a lot of interest, and we had in excess of 30 parties offering for individual sites through to smaller sub-groups, which demonstrates that the Northwest market remains robust and is highly competitive for buyers, whether they are first-time buyers or established operators.”
Whittle Pharmacies was sold for an undisclosed price.