Boots buys northern pharmacy chain

A PHARMACY entrepreneur has sold his 25-strong chain of shops to Alliance Boots.

In a deal that follows a period of consolidation in the retail pharmacy sector HF Healthcare Limited has been sold by founder Alex Holliday for an undisclosed sum.

The firm operates a range of retail and health centre pharmacies mostly under the Healthcare Plus brand, and they can be found across the north of England, including several in Yorkshire.

The £30m turnover business had grown to become the largest privately owned independent wholesale and retail pharmacy group in the North East.

Founded in 1995 HF Healthcare Limited employs around 240 people.

Mr Holliday said: “I felt the time was now right to consider my continued involvement in retail pharmacy. This deal gives me the opportunity to focus on my other business interests.”

Alliance Boots employs more than 100,000 people in 15 countries and was formed in 2006 by the merger of Alliance Unichem and Boots Group.

The firm was taken private in June last year when a successful bid of over £11bn was made by KKR in the first deal to see a FTSE 100 company acquired by a private equity house.

BTG McInnes Corporate Finance led and negotiated the transaction.

Other advisors in the deal included Andrew Nichol and Simon Richards at UNW who provided accounting support and tax advice.