Droitwich Pharmacy sold to MSA Holdings
Multi-site pharmacy Droitwich Pharmacy Limited has been acquired by MSA Global Holdings Limited in a transaction managed by BCMS.
First established in 1978, Droitwich Pharmacy Limited is an independent dispensing pharmacy, which supplies in excess of 20,000 scripts per month. In addition to dispensing medicines under contract with the NHS, Droitwich Pharmacy Limited offers a range of services and healthcare products for retail sale.
“Traditionally in pharmacy there are three or four agents that manage company sales. I wasn’t confident that they would do a good enough job. I chose BCMS because you were non-traditional” – John Hinks, Droitwich Pharmacy
The acquirer, MSA Global Holdings Limited, is an independent marketer and distributor of a large range of medicines and healthcare products. As a holding company, MSA Global Holdings Limited has a presence in over five continents. In the UK, the company has several subsidiaries including S&K Holdings Limited (property investment company), Veenak International Limited (import, export and wholesale), GlobeGen Laboratories Limited (market authorisation company) and Flintlow Limited (independent pharmacy retail chain). This acquisition enables the further growth and development of Flintlow Limited’s retail chain.
Deal commentary
Commenting on BCMS’ role in the transaction, which completed in 2013, John Hinks of Droitwich Pharmacy said: “Traditionally in pharmacy there are three or four agents that manage company sales. I wasn’t confident that they would do a good enough job for us. In my opinion they typically sell businesses to the same small pool of potential candidates. BCMS had not sold many pharmacies but had sold pharmaceutical companies. I chose you because you were non-traditional.
“I thought the sale process was managed very well. Right from the outset BCMS demonstrated how you approached the market and it was all very logical. A list of potential buyers was prepared and every stage progressed as outlined.
“All staff are staying with the business and that was very important to me. I’ve been in the business for 35 years and built up a tremendous amount of trust with staff over that time. The new owners took on the staff and they have respected these relationships,” said Hinks.
