Mon, 03 Mar 2025 | DIVISION SALE
Manchester-based Everest Pharmacy has bought five pharmacies from fellow North West based peer Sykes Chemist Group.
The portfolio comprises four pharmacies in Bolton - Gatleys Pharmacy on Tonge Old Road, Haslams Pharmacy on Halliwell Road, Rigbys Chemist on Swan Lane, and Howards Pharmacy on Chorley Old Road – and Paradise Street Pharmacy within Pals Health Centre in Accrington. These well-established community pharmacies dispense a combined total of circa 33,000 items per month.
The pharmacies are part of a wider group of 14 branches owned by Sykes Chemist Group. The group decided to sell these branches as part of a strategic review of its portfolio.
According to its last set of financial results for the year ended 28 February 2023 Sykes Chemist Group had a turnover of £13 million. It also had around 135 employees.
Tom Young, Senior Business Agent at specialist business property adviser, Christie & Co, carried out the sales process. Following it Everest Pharmacy now owns 22 pharmacies across the North West region.
Everest Pharmacy was founded in 2009. It has branches in Whalley Range, Chorlton, Grove Village and Darwen. It also has an optician at its Grove Village Branch. Its services include cryotherapy, ear wax removal, skin care, private blood testing, health checks and IV Infusion.
According to its last set of financial results as at 31 August 2023 it has around 35 employees.
Young said: “When we launched these pharmacies to the market in July 2024, as expected, we had a lot of interest. Any sites in and around Bolton always generate large volumes of enquiries, and I was pleased that we had multiple offers on all sites. I am keen to see how the businesses develop under the new owner, and we wish them the greatest of success.”
The five pharmacies were sold for an undisclosed price.
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