Gordons Chemists, Northern Ireland’s largest independent pharmacy chain, has sold all nine of its Scottish pharmacies as part of a strategic decision to refocus on its home market.
Broker Christie & Co recently announced the sale of the pharmacies, located in Helensburgh, Alexandria, Milngavie, Cowdenbeath, Musselburgh, Edinburgh, Armadale, Stranraer, and Oban.
Together, these sites dispense approximately 82,600 items per month.
The entire portfolio has been acquired by M&D Green Dispensing Chemists, a large group operator that now owns 42 pharmacies across Scotland.
With this transaction, Gordons Chemists has exited the Scottish market to concentrate on its network of 56 pharmacies in Northern Ireland.
Robert Gordon, co-founder of Gordons Chemists, said, “This decision allows us to refocus our business on our home market, ensuring that we retain our position as Northern Ireland’s leading independent pharmacy chain while continuing to develop and grow our local business.”
He also expressed gratitude to the Scottish team and extended best wishes to M&D Green.
Martin Green, managing director at M&D Green Dispensing Chemists, said that they aim to maintain and build upon “the excellent reputation for pharmaceutical care and service delivered by the Gordons team.”
Karl Clezy, Director – Pharmacy at Christie & Co, described the deal as “a rarity” in Scotland as “very few groups this size come to market.”
The broker acted on behalf of Gordons Chemists to run a discreet process.
“After agreeing on the deal with Martin during the middle of December last year, after a short financial due diligence exercise, Martin moved quickly to conclude the deal,” Clezy said.
However, the broker did not disclose the sale price.
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