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Canada  + Ontario  + Retail  | 
Neighbourly Pharmacy sign.

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.

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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