A 10-strong pharmacy chain based in Liverpool city region with an £11m turnover is being put up for sale by its owner. Tony McDonough reports
A Merseyside-based pharmacy chain that generates annual revenues of more than £11m is being put up for sale.
Sole owner Liam Bradley has asked property firm Christie & Co to sell North Meols Pharmacy. Based in Southport, the business operates 11 pharmacies in Southport, Wirral and North Wales.
Mr Bradley wants to sell the business, which he has built up over the past 14 years, to focus on his community pharmacy business in Northern Ireland. It began with a single pharmacy acquisition in 2009.
Christie & Co says offers will be considered for the whole group, sub-groups or individual outlets.
They occupy well-established community settings, including two integrated GP sites. On average they dispense more than 10,000 items a month and over 80% of the estate achieves dispensing volumes significantly ahead of the industry average in England.
All 10 pharmacies benefit from standard hours contracts and are operated on a fully managed basis.
According to accounts filed on Companies House, North Meols Pharmacy reported revenues of £11.1m for the 12 months to March 31, 2023, This was up from £9.75m in the previous year.
However, pre-tax profit for the period was just under £598,000. This was down just over £602,000 in the previous year. Mr Bradley said the fall in Government COVID support had a negative impact on profit margins.
The accounts stated: “Both the levels of business and the year and financial position were considered satisfactory and the director expects the current level of activity for the company to be sustained for the foreseeable future.”
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Jon Booth, director – medical at Christie & Co, said: “Naturally, we are delighted to have been instructed to offer the 10 North Meols Pharmacy sites for sale.
“In our opinion, this is one of the best small pharmacy estates in the North West, with the majority of them having volumes well in excess of the UK average dispensing level. The group represents fantastic opportunities for a range of buyers both large and small.”