BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / McKesson eyes £400m sale of Lloyds Pharmacy

McKesson eyes £400m sale of Lloyds Pharmacy

Wed, 17 Feb 2021 | BUSINESS SALE

McKesson eyes £400m sale of Lloyds Pharmacy

US-based group McKesson has hired bankers to explore a potential £400 million sale of UK chemist chain Lloyds Pharmacy. McKesson acquired the business in 2014 as part of a $8.3 billion (£5.9 billion) takeover of Lloyds Pharmacy’s German parent firm Celesio.

Since its acquisition, however, Lloyds has struggled with rising costs and cuts to government funding, with the loss-making business saying it had suffered “another exceptionally challenging year” in its latest available financial accounts, to the year ending March 31 2019.

In those accounts, Lloyds reported sales of £1.97 billion and a pre-tax loss of £196 million. On top of these existing struggles, the business has also been hit by COVID-19, with footfall dramatically reduced despite it being able to remain open as an essential retailer.

McKesson said its European sales had fallen 4 per cent, to £4.7 billion, “driven by the negative impact of the pandemic on the pharmaceutical distribution and retail pharmacy businesses.”

Amid these issues, McKesson has reportedly engaged bankers at Barclays to sound out potential buyers for the pharmacy chain, with sources claiming it could command around £400 million.

Lloyds, which has 1,400 UK locations and employs over 17,000 staff, has grown mostly through acquisitions. Prominent names it has acquired include Savory & Moore, Kingswood GK, Hills Pharmacy and Cross & Herbert. In 2016, it completed a £125 million takeover of Sainsbury’s network of around 265 in-store chemists.

McKesson’s other UK operations include drug wholesaler All About Health (AAH), which is also part of Celesio, private vaccine provider Masta and the upmarket Mayfair pharmacy John Bell & Croyden. It is unclear whether these other UK subsidiaries would be included in the potential sales process.


Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Portfolio of Care Homes
East Midlands, UK

This is an opportunity to acquire a portfolio of elderly care homes conveniently clustered in the East Midlands. The management run businesses are highly profitable and well presented. Retirement sale.

Asking Price: Offers Invited
Turnover: £2,902,000

FREEHOLD


Portfolio of Purpose Built Residential Care Homes
West Midlands, UK

Early expressions of interest are invited for the sale of a portfolio of purpose built residential care homes conveniently clustered in the Midlands. Overall occupancy is at c. 90.5% and increasing, with strong levels of private paying clients. All a...

Asking Price: Offers Invited
Turnover: £4,028,000

FREEHOLD


Private Dental Practice
London, UK

This practice is located in London, the residents of which have a good level of disposable income and is perfect for private dentistry. Potential to introduce specialist treatments. Desirable area for private dentistry. High net profit with scope to...

Asking Price: £1,930,000
Turnover: £1,023,229

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
03
 
Feb
 

Social media marketing firm acquired at up to 41.6x operating profit | BUSINESS SALE

Manchester-based social media and influencer marketing agenc...

 
03
 
Feb
 

Pub group planning to sell 1,000 sites as pressures on hospitality mount | COMMERCIAL PROPERTY

Stonegate Group, the UK’s largest pub company, is repo...

 
02
 
Feb
 

Babble hits 12 acquisitions in a year with double takeover | BUSINESS SALE

London-based cloud technology firm Babble has continued its ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
20
 
Jun
 

Prescription start-up acquired by healthcare giant for undisclosed sum | BUSINESS SALE

A UK start-up company that helps individuals manage their su...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.