New brand and investment for former Co-op pharmacies

THE chain of 780 pharmacies previously part of The Co-operative Group have been rebranded and are set for major growth under new owner Bestway.

The business, which is retaining its head office in Manchester, has been renamed as Well and is on the hunt for acquisitions as part of a £200m investment by Bestway over the next five years, which is set to create hundreds of jobs.

Family-owned, London-based  Bestway, which paid £620m for the pharmacy chain last year, wants to grow revenues from £750m to £1bn by 2019.

John Nuttall, chief executive of Well, said: “We are really excited for the future and the potential for growth. We now for the first time have a brand that reflects who we are and what we do.

“We are looking to acquire quality businesses in the right locations.  Community pharmacies can play a key role in easing the increasingly unsustainable pressures faced by frontline NHS services, beyond simply providing prescriptions.

“Ensuring more people make better use of the advice, services and products at Well, we can support the NHS in treating minor ailments and managing lifestyle health issues such as smoking and weight – relieving pressure on key NHS services.”

Nuttall said the response from colleagues and suppliers to the new brand has been “very pleasing”.

Zameer Choudrey, chief executive of Bestway Group, said: “We are very pleased to announce and launch Well; and excited to begin rolling out the next chapter of this fantastic business’ story. We are confident in the new branding that has been created and have no doubt that it has a bright future ahead.

“Moreover, we have pledged to give Well strong support by committing to invest £200m over the next five years to help develop and grow the business, and to make sure Well continues to serve its customers and local communities to the high standard the business has always delivered.”

A further £1.6m is being invested into establishing a new headquarters for Well in Manchester, relocating 227 colleagues from the current Co-operative Group head office.

The business will move into the 22,000 sq ft Merchants Warehouse, a Grade II listed building in Castlefield later this year.

Nuttall said: “The new office is another significant moment for Well – we were of course very keen to keep the Manchester roots of the business.”

He said while Well would be run independently the senior team would look for synergies in buying and some products with its new parent company, which is a major convenience store operator under the Best One fascia.