This morning (August 4, 2016), EBOS Group Limited announced plans to merge its Chemmart business with the Terry White Group businesses, in order to create one of Australia’s largest retail pharmacy groups.
In an EBOS investor release published today (August 4, 2016), the wholesaler announced the merge of Chemmart with Terry White would equate to approximately 500 pharmacies across Australia (270 Chemmart pharmacies and 230 Terry White Chemist pharmacies), with an estimated annual turnover of AUD$2 billion per annum.
For the agreement to be finalised, it requires final approval by the Terry White Group shareholders, with completion of the transaction anticipated to occur in late October 2016.
EBOS Group CEO, Patrick Davies, described the merger as an opportunity to build the strongest retail pharmacy network in Australia.
“Chemmart and Terry White Group have strong, vibrant brands that have established leadership positions within the market.
“The pharmacy industry is positioned for growth with Australia’s ageing population and positive community attitudes towards health and wellbeing. The combined businesses will take a leadership position on health services within community pharmacy, whilst also maintaining a value for money offering,” Mr Davies said.
“This merger is about capitalising on those strengths and continuing to develop competitive and sustainable businesses for pharmacy owners while also significantly increasing our ability to meet the evolving needs of our customers.”
Read the full announcement from EBOS Group Limited here.