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Cross Border News  + Canada + Quebec  + Retail  |  January 17, 2024
Canada's Sagard has agreed to sell its majority stake in France's largest drugstore chain.
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By: Monte Stewart

Sagard to Sell French Drugstore Chain

Canadian asset management firm Sagard plans to sell France’s largest drugstore chain to a French consortium headed by global investment giant Ardian.

Ardian announced the group’s intention to buy Aprum Pharmacie through the acquisition of Montreal-based Sagard’s majority stake in the chain’s parent, Healthy Group. The deal’s completion is subject to “prior information and consultation with Healthy Group’s employee representative bodies,” Ardian said in a news release.

The buyers include bank Bpifrance and institutional investor MACSF. Healthy Group CEO Emmanuel Schoffler and the management team will reinvest in the company.

Aprium has about 470 pharmacies across France.

Sagard has held shares in Healthy Group since its inception in 2016 and invested in the development of Aprium, which has recorded about €1.6 billion in sales.

Photo: Aprium Pharmacie

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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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