Uniphar, the Dublin-listed healthcare companies agency, is shopping for main pharmacy chain McCauley Pharmacy Group.
he deal will add 37 stores to Uniphar’s increasing footprint within the Irish client market and improve the digital capabilities of the broader group, in keeping with Uniphar chief government Ger Rabbette.
“The acquisition of McCauley additional improves our main place within the Irish retail pharmacy market,” he stated. “McCauley is broadly recognised as a number one model throughout well being, wellbeing, and sweetness.”
Uniphar stated the acquisition will add to earnings instantly upon completion of the sale and ship a return on capital of as much as 15pc inside three years.
The corporate didn’t publicly disclose a value for the proposed transaction, nevertheless.
McCauley CEO Tom McEntee stated the enterprise was “in protected arms” and thanked staff for his or her “tireless dedication” by means of the Covid-19 pandemic.
The announcement follows robust interim outcomes from Uniphar three weeks in the past, with greater revenues and earnings throughout the group.
Uniphar reported almost €1bn in income for the primary six months of the 12 months, up almost 3pc on 2021, and elevated earnings by 18pc. The corporate additionally introduced a dividend for shareholders.
The corporate, which had an preliminary public providing in 2018, is on observe to double its earnings over a 5 12 months interval ending subsequent 12 months, in keeping with Mr Rabbette.
The group stated its provide chain and retail division, the place McCauley will sit, has continued to outperform steerage and growing it as a market chief stays a precedence.
