LONDON: Uniphar plc announced the acquisition of Dublin headquartered McCauley Pharmacy Group. The acquisition of McCauley adds 37 retail pharmacies to the Group complementing Uniphar’s growing footprint of symbol group members.
McCauley is widely recognised as a leading provider of pharmacy and retail services in Ireland and a market leader in the delivery of health, wellbeing, and beauty products. McCauley’s expertise in this sector, combined with its customer-focused digital platforms will further support Uniphar’s consumer business, which continues to demonstrate strong growth.
The Supply Chain & Retail division continued to outperform its medium-term guidance during H1’22 and continuing to evolve our market leading service offering across this vital service sector remains a priority for the Group.
The acquisition of McCauley, which is subject to approval by the Irish Competition and Consumer Protection Commission, will be earnings accretive from completion. Earnings will be enhanced further through leveraging the Group’s scale and infrastructure and the acquisition is expected to deliver a Return on Capital Employed in line with Uniphar’s target rate of 12%-15% within three years.
Commenting on today’s announcement Ger Rabbette, CEO of Uniphar said: “The acquisition of McCauley further improves our leading position in the Irish retail pharmacy market. McCauley is widely recognised as a leading brand across health, wellbeing, and beauty. Their expertise and advanced digital offering will complement our fast-growing consumer business in the Supply Chain & Retail division. The acquisition will be earnings accretive from completion, with further efficiencies to be delivered in the medium term and will deliver a Return on Capital Employed of 12-15% within three years.”
Tony McEntee, CEO of McCauley Pharmacy Group said: “With Uniphar’s strong track record in this sector, the future of the McCauley business is in very safe hands. We extend our thanks to all McCauley staff who have played such a critical role in the transformation of the business over the past number of years and, in particular, for their hard work and tireless commitment throughout the Covid-19 pandemic.”