J Sainsbury Plc (LON:SBRY) and Celesio AG (ETR:CLS1) owner of LloydsPharmacy Limited, have today announced the formation of a strategic partnership that will see LloydsPharmacy acquire J Sainsbury’s pharmacy business for £125 million ($138.2). In addition, Sainsbury’s will receive commercial annual rent payments from Lloyds Pharmacy for each location. Lloyds Pharmacy 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.
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J Sainsbury plc is a United Kingdom-based company, engaged in supermarkets and convenience stores, and an online grocery and general merchandise operation. LloydsPharmacy is a community pharmacy operator in the United Kingdom, which owns more than 1, 600 pharmacies, located predominantly within local communities and health centres and is owned by Celesio AG. It has around 17, 000 staff and dispenses over 150 million prescription items annually.