Chemmart to merge with Terry White pharmacies in $2b drug deal

Thursday, 4 Aug 2016 08:06:08 | Michael Janda

A variety of drugs lined up on pharmacy shelves in a pharmacist in Perth (ABC News)

Two of Australia's major pharmacy networks plan to merge, forming a retail group with around 500 stores and $2 billion in turnover.

Chemmart, owned by New Zealand-based medical and pet care firm EBOS, has struck a deal to merge with Terry White Group.

Terry White Group (TWG) has around 230 franchisee pharmacies and EBOS is proposing to sell its Chemmart business to TWG and provide additional capital in exchange for a 50 per cent stake of the merged entity.

EBOS will also be represented on the board of the merged group by its CEO Patrick Davies, and Chemmart's current executive director will be the merged company's chief operating officer.

EBOS has an interesting corporate history, having started out as the Early Brothers Trading Co, selling lamps for horse-drawn carriages in Christchurch in 1922.

In light of history, it made the sensible decision to diversify into medical wholesale.

EBOS is now a medical supply, healthcare, chemist and pet care conglomerate with revenues above $NZ6 billion.

Terry White chief executive Anthony White will continue to run the merged group and said the extra scale and capital will facilitate its expansion.

"The merger of the two networks creates a comprehensive national footprint and increased scale which, when combined with capabilities across retail, merchandise and private label, will improve the group's competitiveness and front line health service delivery for the benefit of all our pharmacy owners and customers," he said in a statement.

"We have a substantial array of core retail capabilities and support platforms which are scalable to handle this growth and support future network expansion."

AustraliaPlus

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Chemmart to merge with Terry White pharmacies in $2b drug deal

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