EBOS announces major investment in Australian retail pharmacy.
EBOS Group Limited has just announced it has entered into an agreement to merge its Chemmart business with the Terry White Group “to create one of Australia’s largest retail pharmacy networks”.
The combined operations will have retail turnover of about $2 billion per annum, and comprise approximately 500 pharmacies.
Under the deal EBOS Group will sell Chemmart and subscribe for shares in Terry White Group Limited, with EBOS Group ceo Patrick Davies saying the merger will “provide both immediate and long term benefits through building the strongest retail pharmacy network in Australia, underpinned by a substantial and sophisticated retail pharmacy model”.
“Chemmart and Tery White Group have strong, vibrant brands that have established leadership positions within the market…this merger is about capitalising on those strengths and continuing to develop competitive and sustainable businesses for pharmacy owners while also significantly increasing our ability to meet the evolving needs of our customers,” he said.
The transaction is subject to several conditions including approval from Terry White Group shareholders, and is expected to be finalised in late October 2016.
More details in today’s issue of Pharmacy Daily.
