The owner of Ryders Chemist, which is adjacent to a GP practice in Formby near Liverpool, said that he wanted to leave the business in a “safe pair of hands” so that he could retire, Christie & Co announced yesterday (April 24).
Martin Hough has owned the “popular” standard hours pharmacy - which dispenses an average of 8,674 items a month - for 29 years, it said.
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Ryders Chemist was sold for an undisclosed price to “a pair of experienced pharmacists” following a confidential sales process, the broker added.
However, it told C+D that the buyers wished to remain anonymous.
“The right decision”
Former owner Mr Hough said that the two independent prescribers (IPs) he sold the pharmacy to will be able to “grow the business” to allow it to succeed.
Read more: Only pharmacy in Aberdeenshire village sold to local chain
“I knew that pharmacy was changing and that growing clinical services was the way forward,” he added, saying that while he “really enjoyed” his time at the pharmacy, he “knew [he] had taken it as far as [he] could”.
“I feel happy that I have made the right decision and that I have left the pharmacy in two safe pairs of hands - I wish them every success,” he said.
“The perfect buyers”
Director of pharmacy at Christie & Co Jon Booth, who handled the sale, said that when he met with Mr Hough and understood his “motivations” for selling, he knew “the perfect buyers”.
“It’s been great working with two committed parties to get our client his well-deserved retirement and I look forward to watching how the business at Ryders grows under the new owners,” he added.
Read more: Kent pharmacy snapped up by ‘young family’ after attracting ‘multiple bids
It comes as the broker has announced a spate of pharmacy sales this month including two family-owned pharmacies in Chester, the only pharmacy in an Aberdeenshire village and a Kent pharmacy that attracted “multiple bids”.
It said last week that there are “an unprecedented number of pharmacies on the market recently”.
