8/27/2021 | Dental Practice and Pharmacy Mortgages

Established pharmacy group in Wiltshire expands through Christie Finance

Commercial finance specialist, Christie Finance has supported Breakspear Ltd to purchase a group of established pharmacies in Swindon, in a share sale managed by the retiring owners.

Breakspear Ltd, a subsidiary of Pillbox Chemists, currently manages 22 branches across the South of England. Davinder and Harminder Virdee operate the business and have moved the group to its next stage of expansion.

Christie Finance supported the pair to source funding, with their incumbent lender unable to provide a competitive package, assisting with the group’s development phase of acquiring two additional community pharmacies.

The standard hour pharmacies are both located in the village of Wroughton, northeast Wiltshire, situated half a mile from each other. Jephson Pharmacy is co-located with Wroughton Health Centre, whilst St John Pharmacy sits in the village’s retail parade, both dispensing a combined 27,000 items per month.

Both pharmacies benefit from Ridgeway View Family GP Practice, co-located with Jephson Pharmacy, which dispenses a further 7,500 items per month.

Davinder Virdee is the Chief Executive Officer of the group and has developed Pillbox Chemists by acquiring pharmacies that fit their business strategy. The pharmacies represent an ideal addition to the group’s growing portfolio. Davinder will look to implement an outstanding service with the use of central administration, allowing staff to spend more time with patients.

David Ward, Senior Director at Christie Finance, who supported Breakspear Ltd in securing funding, comments, “I am delighted to assist Davinder in arranging finance to bring Jephson Pharmacy into the Pillbox Group and I look forward to working with him again for future acquisitions. Davinder is a hugely experienced pharmacist who has developed Pillbox really well, building the group up to have an excellent reputation in the region.”

Contact the agent:
David Ward, Senior Director – Christie Finance
P: 07815 803 262 or E: david.ward@christiefinance.com