High-dispensing Southampton pharmacy sold to regional operator
Specialist business property adviser, Christie & Co, has announced the sale of Blackthorn Pharmacy in Southampton, Hampshire.
This health centre pharmacy dispenses an impressive average of 25,000 items per month. It has been owned by Patrick Stephens for over 25 years and was recently brought to market to allow him to retire.
Following a confidential sales process managed by Jonathan Board at Christie & Co, the business has been purchased by expanding operator, Rosechem Limited, which has multiple other pharmacies in Hampshire and Surrey.
Patrick Stephens, previous owner of Blackthorn Pharmacy, comments, “Over the years, with a lot of hard work and support of my pharmacy team, the business had grown significantly and, after 25 years, I was keen to retire and for someone to take over my business. I am sure the buyer will be successful and will continue to grow the business and build on the great relationships we have created. I would like to thank Jonathan at Christie & Co for all his hard work and am delighted that the sale has now completed.”
Das Bhambra, Co-owner of Rosechem Limited, comments, “I’m delighted to have acquired this high-dispensing pharmacy - it is a business that ticks all the boxes for us. Patrick, Rachel, and the staff have been an integral part of the local community for many years, and I look forward to continuing their great work whilst making the business my own."
Jonathan Board, Director – Medical at Christie & Co, who handled the sale, comments, “This exceptional pharmacy sits in the top five per cent in terms of volume in the UK and is a credit to Patrick and Rachel’s hard work and commitment, specifically through the covid pandemic where they continued to invest and automate the business.
“The market continues to recognise and respond to quality pharmacies. Despite ongoing operational challenges in the marketplace, it is showing remarkable resilience and there remains significant demand for well-established and well-located pharmacies such as this one.”
Blackthorn Pharmacy was sold for an undisclosed amount.
Legal advice for the sellers was provided by TLT LLP in Manchester, and advice for the buyers came from Brabners in Leeds.
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For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Manager
P: 07540 063 598 or E: phoebe.burrows@christie.com
Contact the agent:
Jonathan Board, Director – Medical
P: 07775 807 071 or E: jonathan.board@christie.com
Visit Christie & Co’s Business Search page to find out more about current medical listings.
