Channel Islands Coop is set to expand its community pharmacy business with the purchase of four stores in Jersey and three in Guernsey from Lloyds Pharmacy.
The acquisition will encompass The Parade, Red Houses, Quennevais, and Gorey Village in Jersey and St Sampson’s, L’Aumone, and Longfrie in Guernsey.
The move by CI Coop will provide members and customers across the Channel Islands with greater access to its pharmacy services. As part of the move, CI Coop will be offering roles to all existing Lloyds colleagues, ensuring a smooth transition and maintaining the high level of service that both businesses are known for.
Mark Cox, CEO at CI Coop, said: “This is a unique opportunity to further develop the Coop’s pharmacy business through purchasing seven Lloyds stores. We look forward to welcoming new and existing members and customers to our expanded pharmacy network and are thrilled to welcome their team into the Channel Islands Coop family.”
Sara Kynicos, Head of Care at CI Coop, said: “This acquisition presents an excellent opportunity for us, underscoring our commitment to the growth and development of our pharmacy business, as well as our continued support for the essential pharmacy sector within the local community.”
CI Coop is working closely with the Lloyds Pharmacy team to finalise the sale and plan the transition, with the anticipated completion set for the end of October 2023, subject to the approval of the Jersey and Guernsey competition and regulatory authorities.