Rival Limerick pharmacies to come together in takeover deal

THE proposed takeover of the McCabes Pharmacy group by the LloydsPharmacy group will see eight stores in Limerick come together under the one brand, if the deal is approved.

PHX IRELAND, via its subsidiary LloydsPharmacy, has agreed to acquire McCabes, bringing together two of the best known and most trusted retail pharmacy brands in the country. 

The LloydsPharmacy group currently operates seven stories in Limerick city with another in Shannon and one in Charleville while McCabes operates a single store locally - in the Crescent Shopping Centre.

The new entity, which will be largest pharmacy chain in Ireland with 114 stores, will trade under the McCabes brand and will be led by its CEO Sharon McCabe.   

The proposed transaction is subject to approval by the Competition and Consumer Protection Commission (CCPC).

The combined retail entity will form part of the family-owned PHOENIX group, who are the leading integrated healthcare provider in Europe providing pharmaceutical wholesale, pharmacy retail, and services for the pharmaceutical industry. 

PHOENIX group recently established a strong Irish presence following the completion of the McKesson Europe acquisition which includes United Drug, Ireland’s leading pharmaceutical wholesaler and distributor, and TCP Homecare, innovators in clinical home nursing services and direct to patient delivery solutions.

The terms of the transaction have not been disclosed.

Paul Reilly, chief executive officer of PHX Ireland, commented: “We are delighted to welcome the McCabes Pharmacy group into the PHOENIX family. We have worked with McCabes for many years via our United Drug business and have always admired the innovation of services and distinctive customer service levels that Sharon and her team have brought to the Irish market. Sharon will lead the combined 110 plus community pharmacies with a patient and colleague-centric approach, while continuing to provide the high standard of services both groups have been providing for many years.”

Sharon McCabe, chief executive officer of McCabes Pharmacy, said: “Both McCabes and LloydsPharmacy are businesses rooted in the communities they serve.  We have shared ambition, values, and a vision for primary care in Ireland which centres on providing patients and their families with the very best advice, support and access to medicines. We are both focused on enhancing the role of the pharmacist for the benefit of Irish patients and on creating a compelling and engaging place to work for pharmacists, technicians and all our retail colleagues. 

"McCabes Pharmacy has excelled in delivering exceptional person to person care and with leading digital solutions. We are excited to work with The Lloyds teams to rebrand as McCabes Pharmacy. McCabes Pharmacy, like PHOENIX group, is a family-owned business, and we look forward to working with LloydsPharmacy and PHOENIX group to help our patients and customers across Ireland”.

Steve Anderson, Member of the Executive Board Operations and Logistics at PHOENIX group, commented: “This is great day for our Irish colleagues and the wider PHOENIX group. This acquisition further highlights PHOENIX group’s commitment to growing and investing in new markets. After concluding the acquisition of McKesson Ireland in November 2022, we continue to see huge potential in the Irish market and are committed to supporting the ambition of our local leaders on the ground.”