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05/05/2005
NI's Bairds Chemists bought by Alliance UniChem
Leading European healthcare group Alliance UniChem Plc has announced that it has entered the Northern Ireland market through the acquisition of Bairds Chemists, the region's largest pharmacy chain, for £81m.
Bairds, comprised of three companies, E. A. Baird & Co, Bairds Chemists and E. A. Baird (N'Ards) Ltd., had combined (unaudited) sales in 2004 of £51.6m. Bairds operates 50 pharmacies across Northern Ireland, predominantly in community based locations.
Commenting on the transaction, Ian Meakins, Chief Executive of Alliance UniChem, said: "The acquisition of Bairds Chemists represents an excellent strategic fit with the Alliance Pharmacy portfolio. It enables us to enter the Northern Ireland pharmacy market as leader and provides us with an excellent platform for further growth in the region, building upon Bairds' expertise in the market."
Bairds has approximately 500 employees including 75 pharmacists.
Alliance UniChem said it had met the £81m asking price from "existing resources".
(SP/MB)
Bairds, comprised of three companies, E. A. Baird & Co, Bairds Chemists and E. A. Baird (N'Ards) Ltd., had combined (unaudited) sales in 2004 of £51.6m. Bairds operates 50 pharmacies across Northern Ireland, predominantly in community based locations.
Commenting on the transaction, Ian Meakins, Chief Executive of Alliance UniChem, said: "The acquisition of Bairds Chemists represents an excellent strategic fit with the Alliance Pharmacy portfolio. It enables us to enter the Northern Ireland pharmacy market as leader and provides us with an excellent platform for further growth in the region, building upon Bairds' expertise in the market."
Bairds has approximately 500 employees including 75 pharmacists.
Alliance UniChem said it had met the £81m asking price from "existing resources".
(SP/MB)
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