Scottish multiple expands to 30 with new Glasgow acquisition
Scottish pharmacy chain M&D Green has expanded its reach to 30 stores with the acquisition of Stepps Pharmacy in North Lanarkshire.
The pharmacy, which is based in a former Royal Bank of Scotland building in the town of Stepps near the north-eastern outskirts of Glasgow, was previously owned by Ron Badger.
Stepps Pharmacy was sold to M&D Green Dispensing Chemists for an undisclosed sum following a confidential sales process.
M&D Green says on its website that it has pharmacies “throughout Glasgow, Renfrewshire, Ayrshire, Lanarkshire, Inverclyde, Forth Valley, Lothian and Inverness-shire”.
Mr Badger, who bought the pharmacy in 2020, said he had decided to sell “to look at other pharmacy opportunities”.
He said he was “delighted to pass the business over to the M&D Green pharmacy group, leaving it in safe hands for the future”.
Martin Green, managing director at M&D Green Dispensing Chemists, said: “Stepps Pharmacy is a well-established business which continues to demonstrate steady growth.
“Since its relocation, it has been well set up by Ron and benefits from an experienced and committed team.
“It is geographically well located, extending our coverage further in North Lanarkshire, and we look forward to working with Stuart, the pharmacy manager, and his staff, in the years to come.”
Karl Clezy from property adviser Christie & Co, who handled the sale, said: “This was a quick sale process where we spoke with a handful of operators who we knew would be keen on this opportunity. After only a couple of weeks, we received three offers from experienced operators based in the west of Scotland.
“Our client, Mr Badger, acquired the pharmacy through us 18 months previous and relocated it to the bigger former bank premises.
“He grew the business significantly, helped by installing a dispensing robot and a 24/7 collection point on the outside to help make it more convenient for patients to pick up their prescriptions.”