2nd Feb 2023 10:20
(Alliance News) - Uniphar PLC on Thursday said that it has completed the acquisition of McCauley Pharmacy Group, a Dublin-headquartered retailer.
The transaction, for which the financial terms were not disclosed, will add 37 retail pharmacies to the Dublin-based healthcare services company's portfolio.
Uniphar noted McCauley's expertise in the health, well-being and beauty retailing sector, as well as its customer-focused digital platforms. It said these would further support its consumer business, "which continues to demonstrate strong growth".
It expected the transaction to be earnings accretive from completion, adding that earnings would be enhanced further by leveraging the group's scale and infrastructure. Uniphar anticipated that the acquisition would deliver a return on capital employed in line with a target rate of 12% to 15% within three years.
The transaction is subject to approval by the Irish Competition & Consumer Protection Commission.
"The acquisition of McCauley further improves our leading position in the Irish retail pharmacy market. McCauley is widely recognised as a leading brand across health, well-being, and beauty. Their expertise and advanced digital offering will complement our fast-growing consumer business in the Supply Chain & Retail division," Chief Executive Officer Ger Rabbette commented in September.
Uniphar shares were trading 1.8% lower at 302.00 pence each in London on Thursday morning.
By Holly Beveridge; Alliance News reporter
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