DUBLIN: McCabes Pharmacy and Lloyds Pharmacy, two of Ireland’s leading pharmacy chains, have announced their merger to form a single entity with 114 stores nationwide.
The merged operation will operate under the McCabes brand and will be led by Sharon McCabe, who has been the CEO of McCabes Pharmacy since 1999.
The details and value of the merger have not been revealed.
McCabes Pharmacy has 32 stores in the greater Dublin area, while Lloyds Pharmacy has 82 stores across the Republic of Ireland. The merger is subject to the approval of the Competition and Consumer Protection Commission (CCPC).
A spokesman for the company said that the aim of the merger was to grow the business, not to reduce it, and that there was no plan for job losses. He also said that the integration of the two businesses would start after the CCPC clearance and that the employees would be kept informed.
The merger is part of a larger deal between Phoenix Group, a European pharmaceutical wholesaler and retailer, and McKesson Europe, a German company that owned Lloyds Pharmacy and other businesses in Ireland and Europe. Phoenix Group completed the acquisition of McKesson Europe in November last year.
Phoenix Group also owns United Drug, one of Ireland’s largest pharmaceutical distribution companies, which has a long-standing relationship with McCabes Pharmacy.
Paul Reilly, CEO of PHX Ireland, the parent company of Lloyds Pharmacy, said that he was looking forward to working with McCabes Pharmacy and that they would continue to provide high-quality services to their customers and patients.
Sharon McCabe said that she was excited about the merger and that it would benefit both the customers and the staff of McCabes Pharmacy and Lloyds Pharmacy.