Cooper Parry have concluded the sale of East Midlands-based pharmacy chain Burrows & Close to Boots UK. Working closely with the corporate team at Geldards Law Firm, Cooper Parry acted as lead advisers to Burrows & Close on the disposal to Boots UK which has resulted in the sale of its 17, well-established pharmacies.
Working closely with the corporate team at Geldards Law Firm, Cooper Parry acted as lead advisers to Burrows & Close on the disposal to Boots UK which has resulted in the sale of its 17, well-established pharmacies.
The first Burrows & Close pharmacy opened in 1973, and since then the chain has become well known in Nottingham and the surrounding areas for excellent healthcare advice and a commitment to local communities.
Ben Rookes, Corporate Finance Director at Cooper Parry Corporate Finance said: “This was a strategic purchase for Boots, acquiring a firm with similar values and deep commitment to the people of Nottingham.
“We are pleased to have been able to advise Burrows & Close on what has been a very successful deal for both parties. It is very rewarding to come ‘full circle’ having acted on the company’s MBO ten years ago to now manage a successful exit for the owners.“
Hugh Strickland, Corporate Finance Partner at Geldards Law Firm said: "I led the legal advice on Richard's buy out in 2004 and have acted for the company since then as he and his team have grown and developed the business. It is great to see two superb Nottingham businesses coming together."
“Advising on Richard buy-out in 2004 was my first pharmacy deal – since then I have advised on over 100 other deals in the sector, for buyers, sellers and funders.”
Cooper Parry’s Corporate Finance team advise privately owned businesses, business owners, management teams and private equity firms on a range of services including company sales, acquisitions, development capital, private equity support and MBOs.
The rebranding of Burrows Close pharmacies will commence later this year. The new “your local Boots pharmacy” stores will provide an even wider choice of health and beauty products and services to customers including an “order-online and collect-in-store” service. The rebranded Boots pharmacies will continue to offer all current pharmacy services, as well as introducing well known Boots product brands.