Thu, 30 Jul 2015 | BUSINESS SALE
Sainsbury's has sold its pharmacy business in a deal valued at £125 million.
The supermarket has sold its 281 pharmacies to Celesio, the owner of Lloyds Pharmacy chain.
Once the details of the transaction have been ironed out, Lloyds will step in and rent out the pharmacies in Sainsbury's. They will run the 277 in-store points and the four hospital locations, with all 2,500 Sainsbury's pharmacy staff transferring to Lloyds.
Chief executive of Sainsbury's, Mike Coup, commented on the business sale: “Working together with a specialist operator like Lloyds Pharmacy will enable us to grow and extend our pharmacy services to customers, whilst realising value for shareholders today from the pharmacy business we have grown organically over the last 20 years.”
The deal comes just a week after Sainsbury's raised £500 million through bond issues and has sparked further speculation that the company might be looking to buy out a chain or group of stores to expand its convenience store brand, Sainsbury's Local, or Netto, its discount joint venture.
Celesio AG chairman Marc Owen said that the sale is also an “important milestone” for Celesio as the company continues to “invest in Lloyds Pharmacy and our collaboration with Sainsbury's will help to improve the health and wellness of our mutual customers”.
View other businesses for sale
An exciting opportunity to acquire a highly profitable luxury holiday let business and residential/owners accommodation. This unique holiday accommodation business offers a boutique collections of luxury, design-led stays and over 15 acres of versati...
FREEHOLD
This is a unique chance to acquire a highly profitable, conversion rate optimisation-focused Shopify agency with a stronghold in the beauty, skincare, and premium direct-to-consumer sectors, demonstrating impressive year-on-year growth and remarkable...
This well-established company offers a unique opportunity to acquire a business with a robust track record in the social housing sector, specialising in refurbishing void and neglected properties for housing associations. Boasting strong, long-term c...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.