Sainsbury(J) PLC Sainsbury's & Celesio form pharmacy partnership (4179U)
29 July 2015 - 6:20PM
UK Regulatory
TIDMSBRY
RNS Number : 4179U
Sainsbury(J) PLC
29 July 2015
J Sainsbury PLC forms pharmacy partnership with Celesio AG
J Sainsbury Plc (Sainsbury's) and Celesio AG, owner of Lloyds
Pharmacy Limited (LloydsPharmacy), today announce the formation of
a strategic partnership that will see LloydsPharmacy acquire
Sainsbury's pharmacy business for GBP125m. In addition, Sainsbury's
will receive commercial annual rent payments from LloydsPharmacy
for each location. LloydsPharmacy has agreed to acquire 281
pharmacies in total, including 277 in-store pharmacies and four
located in hospitals, all of which will be rebranded as
LloydsPharmacy. Sainsbury's and LloydsPharmacy customers will
benefit from an enhanced pharmacy service delivered from
Sainsbury's stores with all the benefits of accessible parking,
flexible opening hours and convenient locations. The deal is
expected to complete by the end of February next year, subject to
regulatory conditions being satisfied.
ENDS
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