Scottish chain linked to Lloyds Pharmacy outlets

Lloyds Pharmacy is attracting interest

Lloyds Pharmacy is understood to have attracted interest from a Scottish chain which is keen to acquire some of its branches.

At least two consultants have been identified as selling agents to which interested parties are being referred.

A source said Lindsay & Gilmour, which has 31 teams across Central Scotland, Fife and The Borders, was among those looking at acquiring branches. It has not responded to contact from Daily Business.

Two stores in Aberdeenshire were sold to independent chain Porter Pharmacy earlier this month.

There was some speculation before Christmas that the chain was looking to sell branches around the UK. It is understood the stores are being sold under three project names – Project Clover, Project Mulberry and Project Sapphire – with each managing a different geographical region in the UK. Under Project Sapphire, branches have been put up for sale across Scotland.

A LloydsPharmacy spokesperson said: “Lloyds Pharmacy regularly reviews its pharmacy estate to ensure it is operating sustainably and any decision to sell stores is taken in the interests of patients, colleagues and the business.

“At all times, patient safety remains our top priority ensuring that our customers and patients are always able to access vital prescriptions, health advice, products and services.”

Lloyds Pharmacy was acquired by asset management group Aurelius in a deal announced in November 2021 and completed last April.

The prospect of branch sales across the UK comes just weeks after LloydsPharmacy ended its relationship with Sainsbury’s, a move that could see more than 220 pharmacies close.

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