Hollowood swallows North West rival

PHARMACY group Hollowood Chemists has acquired WA Salter (Chemists) in a multi-million pound deal.

It sees the Cheadle, Greater Manchester company take ownership of six pharmacies across Lancashire and Merseyside, bringing its total portfolio up to 17.

Hollowood was advised by Manchester law firm Kuits which specialises in advising businesses growing through acquisition.

Corporate associate Helen Mather led the transaction alongside corporate senior associate Jan Winstanley, who advised on the corporate banking aspects of the deal, and commercial property partner Stephen Lopeman.

The deal is the latest is a series of significant acquisitions undertaken by Hollowood Chemists. In August 2014, Kuits advised the group on its multi-million pound acquisition of shares in J Simpson Chemists and Clamary, which saw it add a further five pharmacies to its growing roster.

Hollowood director Rajesh Patel said: “Our acquisition of six new pharmacies continues what has been a period of significant growth for the business.

“The team at Kuits has been invaluable in providing the best possible advice on all aspects of our transactions and wider commercial strategy, and I would not hesitate to recommend them to other businesses with ambitious growth aims.”

Mather said: “We are delighted to continue to advise Rajesh and the team at Hollowood Chemists on their long-term growth strategy.

“We would advise anyone looking to grow through acquisition to ensure they enlist trusted advisors that understand their approach and can therefore provide a complete commercial service from start to finish – from due diligence, to funding options and, finally, the integration of the two businesses.”

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