South East London pharmacy sold after 20 years
A 7,000 items-per-month pharmacy in South East London has been sold after 20 years under the same ownership, with the new owner saying he plans to boost its local service offering.
A F Brown Pharmacy in Sidcup has been owned for 20 years by Ramesh Patel, who is now retiring, broker Christie & Co reported.
Following a confidential sale process it went for an undisclosed price to Joseph Acheampong, who owns a pharmacy in nearby Penge and one in Bournemouth.
Mr Acheampong said: “I’m delighted to add this established pharmacy to my portfolio and hope to build on the good work already done by the sellers.
“I feel that there is potential for more services to be offered to the local community from this pharmacy and I’m looking at the opportunity to add a further consultation room.”
Mark Page, Director – Medical at Christie & Co, comments, “It was a pleasure to help Ramesh sell his pharmacy, allowing him to retire, and to help Joseph with his acquisition, which is the second pharmacy he’s purchased through us.
“This sale demonstrates the continued demand that we’re seeing for quality independent pharmacies. Over the past 12 months at Christie & Co, we have sold many pharmacies within the M25 and have found that prices remain robust.”