Chemist Warehouse to enter UK through Green Light pharmacy joint venture
Australian pharmacy Chemist Warehouse is to expand into the UK through a new joint venture between owner Sigma Healthcare and the Green Light pharmacy group.
Founded in London in 1999, employee owned Green Light currently has 22 stores in and around the capital.
Subscribe to TRBThe deal will see Sigma acquire a 75% interest in a number of sites, with 25% continuing to be held by Green Light.
Under the joint venture, Sigma will licence the Chemist Warehouse brand and intellectual property, and provide retail support, including ranging, store layout, inventory management and marketing.
Meanwhile, Green Light will provide dispensary and professional services and back office support.
Vikesh Ramsunder, Sigma Healthcare chief executive and managing director, said: “International expansion is one of our four key strategic growth pillars.
“Having proven that the Chemist Warehouse model resonates with customers in other markets, including New Zealand and Ireland, the JV with Green Light now provides a measured market access into the UK.”
The companies will be working together to identify existing Green Light pharmacies that can be developed or relocated into Chemist Warehouse stores. Phase one of the joint venture will focus on rebranding and developing an initial five stores with the option for more sites to be included in phase two should these prove successful.
The first store under the joint venture will be Hoxton Street in east London.
