Charles Russell Speechlys advises Sainsbury’s on pharmacy sale
29 September 2015
Charles Russell Speechlys recently advised Sainsbury’s Supermarkets Ltd in connection with the sale of their pharmacies to Lloyds Pharmacy Limited (owned by Celesio AG) for the sum of £125 million.
The sale has been widely reported in the press, and will result in a significant increase in the number of pharmacies owned by Lloyds, which is the second largest pharmacy chain in the UK.
It may represent a trend in Supermarkets raising funds through the sale of their pharmacy businesses following the sale, last year, by the Co-operative Group of its pharmacies to the Bestway Group for £620 million. The Charles Russell Speechlys team that advised Sainsbury’s comprised Partner David Reissner and Senior Associate Rachel Warren.
Commenting on the transaction, David Reissner said:
"As the only UK law firm with a team of lawyers specialising in all aspects of pharmacy law, regulation and conduct issues, we were ideally placed to advise Sainsbury’s in connection with the sale of their pharmacies to Lloyds Pharmacy Limited.
"Our team is able to handle the sale and purchase of pharmacy businesses of all sizes, with clients benefitting from our long history and diverse range of experience in this sector."