Family-owned Cheshire pharmacy business sold to Midlands operator
Specialist business property adviser, Christie & Co, has announced the sale of a pair of family-run pharmacies in Chester, trading as Salrook Healthcare Limited.
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Salrook Healthcare Limited comprises two well-established community pharmacies which are located within a mile of each other in Chester; Westminster Park Pharmacy on Castle Croft Road and Owen’s Chemist on Chester Street. Together, they dispense circa 13,000 items per month.
The business has been owned by the Persaud family since 2014 and was recently brought to the market as a retirement sale. Following a confidential process with Christie & Co, it has been purchased by Aqib Sheikh, an existing operator with a pharmacy in Walsall, West Midlands. Aqib plans to enhance the business’s service offering and grow his portfolio in the region.
Chloe Yadav (nee Persaud), previous owner of Salrook Healthcare Limited, comments, “As a family, we are delighted to have completed the sale of the business to Aqib. Whilst we will miss our team who have become like family, it is good to know that the two sites have been acquired by a forward- thinking Pharmacist who will enhance the offering to the benefit of the patients and the community which they serve. My family and I wish Aqib and the whole team the very best of luck with the future.”
Aqib Sheikh, new owner of Salrook Healthcare Limited, comments, “I am delighted to have inherited such a well-run and profitable pair of pharmacy businesses in the charming city of Chester. I’d like to wish John Persaud the very best with his retirement and look forward to building on the work of the Persaud family.”
Jon Booth, Director – Medical at Christie & Co, who handled the sale, comments, “It’s fantastic to finally get this deal done, working with clients like the Persauds is always great, and it’s pleasing to get them the result they needed. This was a well-run family business with good dispensing volumes and well-established community locations. It’s always more challenging when there are two sites, but the proximity of both Owen’s and Westminster made this easier. I am looking forward to seeing how the new owners implement their growth plans and wish them every success.”
David Ward, Senior Director at Christie Finance, who sourced funding for the buyer, comments, “Having previously helped Aqib with the purchase of his first pharmacy, I was delighted to have been able to support him in arranging the finance to acquire these two. The purchase process wasn’t without its challenges and demonstrated the importance of using a specialist pharmacy finance broker who has links to the right lenders and managers in the market and can work with them to facilitate the purchase.”
Salrook Healthcare Limited was sold for an undisclosed price.
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For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Manager
P: 07540 063 598 or E: phoebe.burrows@christie.com
Contact the agent:
Jon Booth, Director – Medical
P: 07703 607 122 or E: jon.booth@christie.com
Contact Christie Finance:
David Ward, Senior Director
P: 07815 803 262 or E: david.ward@christiefinance.com
Visit Christie & Co’s Business Search page to find out more about current medical listings.