The Co-operative Group announces completion of Pharmacy sale to Bestway Group

October 06, 2014

The Co-operative Group (‘The Co-operative’) today announces the completion of the sale of its Pharmacy business to Bestway Group (‘Bestway’) for £620 million.*

This follows the previous announcement on 18th July that The Co-operative had entered into an agreement to sell the Pharmacy business to Bestway, following a formal sale process.  

The Co-operative has agreed to provide certain services to the Pharmacy business for up to 18 months, under a transitional services agreement, and Bestway will have the right to operate under The Co-operative Pharmacy brand for a transitional period of 12 months.

* the purchase price of £620m is the enterprise value attributed to the business on a cash and debt free basis

For further information contact:

The Co-operative Group

  • Russ Brady: Tel: 07880 784442
  • Catherine Turner: 07834 090783

Tulchan Communications

  • Susanna Voyle / Jonathan Sibun: Tel: 020 7353 4200

For Bestway Group

  • Jonathan Glass / Craig Breheny - Brunswick Group: Tel: 0207 404 5959