McCabes Pharmacy and LloydsPharmacy unite under the McCabes brand
PHX IRELAND, via its subsidiary LloydsPharmacy, has agreed to acquire McCabes Pharmacy, bringing together two of the best known and most trusted retail pharmacy brands in the country.
The proposed deal will see the combined retail pharmacy outlets merge their operations, trade under the McCabes brand and be led by Sharon McCabe.
LloydsPharmacy operates 82 stores across the Republic of Ireland, while McCabes Pharmacy has 32 stores across the greater Dublin Area. The transaction is conditional upon approval by the Competition and Consumer Protection Commission (CCPC).
The combined retail entity will form part of the family-owned PHOENIX group, who are the leading integrated healthcare provider in Europe providing pharmaceutical wholesale, pharmacy retail, and services for the pharmaceutical industry.
PHOENIX group recently established a strong Irish presence following the completion of the McKesson Europe acquisition which includes United Drug, Ireland’s leading pharmaceutical wholesaler and distributor, and TCP Homecare, innovators in clinical home nursing services and direct to patient delivery solutions. Terms of the transaction have not been disclosed.
Paul Reilly, Chief Executive Officer of PHX Ireland, said; “We are delighted to welcome the McCabes Pharmacy group into the PHOENIX family. We have worked with McCabes for many years via our United Drug business and have always admired the innovation of services and distinctive customer service levels that Sharon and her team have brought to the Irish market. Sharon will lead the combined 110+ community pharmacies with a patient and colleague-centric approach, while continuing to provide the high standard of services both groups have been providing for many years.”
Sharon McCabe, Chief Executive Officer of McCabes Pharmacy, said; “Both McCabes and LloydsPharmacy are businesses rooted in the communities they serve. We have shared ambition, values, and a vision for primary care in Ireland which centers on providing patients and their families with the very best advice, support and access to medicines. We are both focused on enhancing the role of the pharmacist for the benefit of Irish patients and on creating a compelling and engaging place to work for pharmacists, technicians and all our retail colleagues. McCabes Pharmacy has excelled in delivering exceptional person to person care and with leading digital solutions. We are excited to work with The Lloyds teams to rebrand as McCabes Pharmacy. McCabes Pharmacy, like PHOENIX group, is a family-owned business, and we look forward to working with LloydsPharmacy and PHOENIX group to help our patients and customers across Ireland”.
Steve Anderson, Member of the Executive Board Operations & Logistics at PHOENIX group, said; “This is great day for our Irish colleagues and the wider PHOENIX group. This acquisition further highlights PHOENIX group’s commitment to growing and investing in new markets. After concluding the acquisition of McKesson Ireland in November 2022, we continue to see huge potential in the Irish market and are committed to supporting the ambition of our local leaders on the ground.”