New owners for impressive, high-dispensing Preston pharmacy

MX Pharmacy was established by Yasar Hussain and Anil Chauhan in late 2009 under the 100-hour exemption category. They then relocated the contract to the current premises in August 2011, which at the time was fully refurbished into a spacious modern pharmacy unit. In Summer 2023, they acquired a nearby standard hours contract, which was then relocated to the current premises on Longridge Road in Preston. The resulting standard-hour pharmacy business dispenses an average of 16,700 items per month and is well-regarded in its area.

The pharmacy was recently brought to market to allow Anil to retire from community pharmacy and enable Yasar to take a career break before deciding on his next steps.

Following a confidential sales process with Jon Booth at Christie & Co, and with funding sourced through Gary Boyce at Christie Finance, the pharmacy has been purchased by Sudhir Goli, Muninder Adavelly and Naresh Garlapati - a group of three partners, one of whom already owns a pharmacy business in Greater Manchester.

Anil Chauhan, former owner of MX Pharmacy, comments, “Having established the business as a 100-hour contract together in 2012 in a different, nearby location and then merging to convert to a standard hours contract in early 2024 before re-locating to the current unit, we have had a fantastic time establishing a solid business that is delivering excellent service and high dispensing volumes. All of this has been possible thanks to our fantastic staff and loyal customers. Deciding to sell was a difficult decision to make, but both Yas and I wanted to go out on a high, and we felt that the timing was right. We wish the new owners and their team the greatest of success and know that with their energy, they will grasp new opportunities to serve the local community.”

Muninder Adavelly, new co-owner of MX Pharmacy, comments, “As there were three of us looking to go into partnership, we had a very specific idea of the type of pharmacy we needed to acquire, and MX ticked all of the boxes. Anil and Yas have created an amazing business, which we are delighted to have taken ownership of, and we look forward to continuing the great work they have done here and moving it forward with our own ideas and implementing some of the experiences we have as a trio to take MX to the next level. We want to wish Anil and Yas the very best for the future and thank them for their patience throughout the transaction and their highly professional handover at the end.”

Sudhir Goli, new co-owner of MX Pharmacy, adds, “I would like to thank Anil and Yasser for their help with the takeover. They have been very professional and explained everything in detail, ensuring a smooth transition. We are committed to carrying forward the same high standard of care, service, and integrity they have provided to the customers. We will ensure continuity in service while maintaining the trust and relationships they have built over the years.”

Jon Booth, Director - Pharmacy at Christie & Co, comments, “Meeting with Anil and Yas for the first time in early 2025 and having gathered an understanding of the quality of the business they ran, we were delighted to be trusted with their instructions to sell. Single-site operations of this quality are rare in the market, and it was an exciting challenge to take on at a point in the market when appetite for these higher tariff sites was only just showing signs of improvement. We created a discreet, short, sharp marketing campaign which quickly produced two quality competing parties offering in excess of the guide price, which reflects the quality of the asset but also our regional knowledge of qualified buyers.”

Gary Boyce, Director at Christie Finance, comments, “MX Pharmacy presents a sound opportunity for Sudhir, Muninder and Naresh in their first joint pharmacy purchase. We were able to build a robust lending proposal around the key experience that Sudhir has from being part-owner in an existing pharmacy, along with the pharmacy management knowledge of Naresh and the business acumen that Muninder demonstrates. The funding support gained on their behalf provides a solid foundation for them to implement their exciting plans, provide an improved and wider service to their customer base, and achieve the anticipated growth of the business.”

MX Pharmacy was sold for an undisclosed price.

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