Retail in brief | McKesson, Wesfarmers, API

Retail in brief | McKesson, Wesfarmers, API

8 April 2022 - Deborah Wilkes

  • McKesson completes sale of UK businesses including Lloydspharmacy
  • Wesfarmers completes takeover of API

McKesson completes sale of UK businesses

McKesson Corporation has completed the sale of its UK businesses, including the Lloydspharmacy retail chain, to private-equity firm Aurelius for an enterprise value of GBP477 million (USD650 million).

In addition to Lloydspharmacy, Aurelius has gained AAH Pharmaceuticals, John Bell & Croyden, LloydsDirect, LloydsPharmacy Clinical Homecare, LloydsPharmacy Online Doctor and MASTA. The Lloydspharmacy chain has more than 1,400 pharmacies in the UK.

Aurelius said the McKesson UK businesses had generated sales of more than GBP5 billion and Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the “high double-digit millions” in 2020.

McKesson said the deal, which was announced in November 2021, was “another important step in advancing its commitment to streamline the business and fully exit the European region” (click here to read the News story).

Wesfarmers completes takeover of API

Australian conglomerate Wesfarmers has completed the acquisition of Australian Pharmaceutical Industries (API), including its Priceline Pharmacy chain.

The transaction also gives Wesfarmers the Soul Pattinson Chemist and Pharmacist Advice brands as well as the Clear Skincare non-surgical skincare clinic business and the Consumer Brands health and personal care business.

The deal valued API at AUD764 million (USD567 million) (click here to read the News story).

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