Neighbourly Acquires Five Pharmacies, One More Purchase to Come
Neighbourly Pharmacy is in expansion mode after emerging from creditor protection.
Toronto-based Neighbourly announced that it has acquired five locations in Saskatchewan, Nova Scotia and B.C. in separate transactions. Another acquisition in B.C. is slated to close by the end of June.
“These acquisitions reflect the ongoing execution of our proven acquisition strategy,” said Skip Bourdo, Neighbourly’s CEO. “We remain focused on continuing to grow our network of pharmacies and serving more communities across Canada.”
The purchases come after Neighbourly completed its take-private sale to Persistence Capital Partners under a plan of arrangement.
The court-approved transaction covered 294 independent Neighbourly pharmacies across Canada. Toronto-based Persistence agreed to purchase the company in January for $836.8 million.