The largest independent pharmacy business in Wales is under new ownership.
Family-owned Sheppards Pharmacy has been acquired by Avicenna Retail for an undisclosed sum.
Sheppards was established in Aberdare by Alan and Jean Sheppard in 1972, and now operates 34 community pharmacies concentrated mainly in the South Wales Valleys, with stores also in Pembrokeshire and around Bridgend.
Partner in Hugh James’ corporate/commercial team, Greg William,s advised long-standing client Sheppard’s on the deal assisted by Natalie Lane and Matt Detheridge. Kilsby Williams provided tax advice.
Mr Williams said: “Having worked with Sheppard’s Pharmacies on their transactions over the years we have witnessed their commitment and drive to successfully build the biggest independent pharmacy group in Wales.
“It was therefore a pleasure to advise Alan Sheppard and his family on this landmark transaction, which sees an established pharmacy name, at the forefront in delivering much-valued primary care provision for our local communities during the Covid pandemic, form part of the Avicenna group.
This transaction highlights, that notwithstanding current challenges, the pharmacy sector remains active.”
Avicenna currently manages an estate of 101 stores, based primarily in the south of England and the north east.
Its latest deal expands Avicenna’s store footprint into Wales and forms part of its wider acquisition growth strategy.
In a statement the company said: “The Sheppards stores are well positioned and well invested community pharmacies, concentrated mainly in the South Wales Valleys with stores also in Pembrokeshire and around Bridgend. These locations perfectly complement our existing branches in Gwent and Powys.”
