Uniphar, the Dublin-listed healthcare services company, is buying leading pharmacy chain McCauley Pharmacy Group.
According to Uniphar CEO Ger Rabbette, the deal will add 37 retail stores to Uniphar’s growing presence in the Irish consumer market and enhance the digital capabilities of the entire group.
“The acquisition of McCauley further expands our leading position in the Irish retail pharmacy market,” he said. “McCauley is widely recognized as a leading brand in health, wellness and beauty.”
According to Uniphar, the acquisition will be accretive to profit immediately upon closing of the sale and will deliver a return on investment of up to 15 percent within three years.
However, the company has not publicly announced a price for the planned transaction.
McCauley CEO Tom McEntee said the company was “in safe hands” and thanked employees for their “hard work” during the Covid-19 pandemic.
The announcement follows strong interim results from Uniphar three weeks ago, with higher sales and earnings across the group.
Uniphar reported sales of almost 1 billion euros for the first six months of the year, up almost 3 percent from 2021, and increased profit by 18 percent. The company also announced a dividend for shareholders.
The company, which went public in 2018, is on track to double its earnings over a five-year period by the end of next year, according to Rabbette.
The group said its supply chain and retail division, where McCauley will sit, has continued to beat forecasts and developing as a leader remains a priority.
https://www.independent.ie/business/irish/uniphar-consolidates-pharmacy-market-with-purchase-of-mccauley-chain-41999518.html Uniphar consolidates the pharmacy market with the acquisition of the McCauley chain