Sainsbury’s sells pharmacy chain to LloydsPharmacy

LONDON — Sainsbury’s, the United Kingdom’s second-largest supermarket chain, announced Wednesday that it sold its pharmacy chain to LloydsPharmacy for £125 million (approximately $195 billion). The deal is expected to be completed by late February, pending regulatory approval.

"Sainsbury’s is a fantastic fit for LloydsPharmacy,” Cormac Tobin, managing director of LloydsPharmacy and its drugs wholesaler, Celesio UK, said. “We are both passionate about excellent customer service and making a positive impact on the communities we serve. Health is our focus and over recent years we have developed a range of services to make it easier for people to manage their health, such as our pain management and skin health services, and we look forward to making these even more accessible via the Sainsbury’s network.”

Celesio will buy 281 pharmacies from the grocery chain. With more than 1,600 stores in the United Kingdom, LloydsPharmacy will acquire 277 in-store pharmacies, four hospital pharmacies and 2,500 of Sainsbury’s staff.

"Working together with a specialist operator like LloydsPharmacy will enable us to grow and extend our pharmacy services to customers, whilst realising value for shareholders today from the pharmacy business we have grown organically over the last 20 years,” Sainsbury CEO Mike Coupe said.