SPECIALIST business property advisor Christie & Co has sold north Wales pharmacy group Alexanders Pharmacies Limited.
The established group has three community pharmacies with a combined dispensing volume of circa 23,000 items per months. They are located in Plas Madoc, Wrexham and Pen-y-Cae.
The group has been owned by Alexander Daghlian for over 30-years and was bought to market to allow him to pursue a well-earned retirement.
Following a confidential sales process with Jon Booth at Cristie & Co, and with funding sourced through Alena Ray at Christie Finance, the group has been purchased by first-time buyers and husband and wife Pharmacists who plan to continue running the business as a fully managed operation.
They also hope to enhance it with their skill set focused on the services side of modern community pharmacy which will improve the already high service levels that it is renowned for.
Alexander Daghlian, former owner of Alexanders Pharmacies Limited, said: "After 30 years of owning the business, I felt it was time to retire and I am delighted to have secured the sale with the help of Jon Booth at Christie & Co.
"There were some up and downs along the way with challenges throughout the deal, but I am so pleased that the business that my family and I have built over the last 30 years has been passed on to another family who, I am sure, will breathe new life into the pharmacies and ensure that the people of Wrexham continue to receive the best service.
"I wish them and all of the pharmacy teams the greatest of success for the future.”
Jon Booth, Director – Pharmacy at Christie & Co, said: “The sale of Alexanders Pharmacies Ltd shows that there continues to be an appetite for small groups across the whole of the UK if the right approach to marketing a business is adopted.
"The group was one of the best-run small groups in North Wales, with ownership going back over 30 years and it was an honour to represent Alexander when he decided to sell.
"The pharmacies that form the group serve three distinct populations in and around Wrexham with suburban and village settings and have a reputation for high service levels. I believe that legacy is safe in the hands of the new owners, and I wish them all the very best for the future.”
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Alena Ray, Director at Christie Finance, said: “I was delighted to support the buyers with the acquisition of Alexanders Pharmacies.
"It has been quite a journey, especially with the lease-related issues that were reliant on local authority approval, and it feels great to know that the transaction has been completed for all parties involved.
"It is fantastic to know that the new owners have dived into the business and working towards making a positive impact in their local communities. I wish them all the success and I am confident that the pharmacies will benefit from their guidance.”
Alexanders Pharmacies Limited was sold for an undisclosed price.
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