J Sainsbury PLC forms pharmacy partnership with Celesio AG
J Sainsbury Plc (Sainsbury's) and Celesio AG, owner of Lloyds Pharmacy Limited (LloydsPharmacy), today announce the formation of a strategic partnership that will see LloydsPharmacy acquire Sainsbury's pharmacy business for £125m. In addition, Sainsbury's will receive commercial annual rent payments from LloydsPharmacy for each location. LloydsPharmacy has agreed to acquire 281 pharmacies in total, including 277 in-store pharmacies and four located in hospitals, all of which will be rebranded as LloydsPharmacy. Sainsbury's and LloydsPharmacy customers will benefit from an enhanced pharmacy service delivered from Sainsbury's stores with all the benefits of accessible parking, flexible opening hours and convenient locations. The deal is expected to complete by the end of February next year, subject to regulatory conditions being satisfied.
ENDS
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