Dubai: The Bestway Group, UK’s 18th largest privately owned company, has acquired The Co-operative Group’s pharmacy business for £620 million (Dh3.88 billion). The transaction is due to be completed in October, following the final separation of the pharmacy business from Co-op. The agreement follows a competitive sale process initiated by Co-op and Bestway saw off competition from the likes of Lloyds Pharmacy, Alliance Boots and Carlyle, the US buyout firm.
Commenting on the deal, Zameer Choudrey, Bestway Group Chief Executive, said: “We are delighted to be bringing The Co-operative Pharmacy business into our Group, adding to our growing and diverse business portfolio. In line with our own ethos, there is a strong focus on supporting and interacting with local communities within this sector.”
