18 December 2018 - Deborah Wilkes
Phoenix has reported its financial results, Migros has acquired a pharmacy chain and there are rumours about Amazon.
Phoenix releases financial results
German wholesaler and retailer Phoenix said its total operating performance – comprising revenue and handling for service charge – was EUR24.4 billion (USD27.7 billion) in the nine months ended 31 October 2018.
This represented a rise of 4.3% compared to the same period a year earlier. At constant currencies, the rise was 5.2%.
Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were down slightly to EUR324 million.
During the third quarter ended 31 October 2018, Phoenix completed the acquisition of Romanian pharmaceutical wholesaler Farmexim and its national pharmacy chain Help Net Farma. The deal took the German company into the Romanian market (click here to read the News story).
Chief executive officer Oliver Windholz said: "With our clear strategy of organic growth and targeted acquisitions, we are continuing to expand our market position in Europe."
Phoenix operates around 2,500 of its own pharmacies in 14 countries. The wholesaling business of Phoenix operates in 26 countries.
Migros acquires Topwell
Swiss retailer Migros is acquiring the Topwell chain of pharmacies through its Medbase subsidiary. Topwell, which claims to be the "oldest pharmacy chain in Switzerland", operates 42 pharmacies in the German-speaking part of the country. Financial details of the deal were not disclosed.
Rumours about Amazon
Media reports have suggested online retailer Amazon might make a takeover bid for UK supermarket chain Wm Morrison.
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