Euroapotheca to acquire Apoteksgruppen pharmacy chain, forming one of Northern Europe’s leading pharmacy networks
Euroapotheca, UAB (“Euroapotheca”) – the Baltic and Central Eastern Europe (CEE) pharmacy retail and wholesale group – has signed an agreement with the Kingdom of Sweden to acquire Apoteksgruppen i Sverige Holding AB (“AGHAB”). AGHAB provides franchise and management services to 189 pharmacies operating under the Apoteksgruppen brand and directly owns and operates three Apoteksgruppen pharmacies. Additionally, Euroapotheca is pleased to announce that it has signed an agreement to acquire 156 of the privately owned Apoteksgruppen pharmacies. Euroapotheca will continue to fully support the remaining 30 independent pharmacies operating under the Apoteksgruppen franchise.
The acquisition of AGHAB and 159 Apoteksgruppen pharmacies is a key step in Euroapotheca’s strategy to become the leading pharmacy network in the Baltics, Nordics and CEE. Following completion of both transactions, Euroapotheca will be the fourth largest player in the Swedish pharmacy retail market with a market share of approximately 9 per cent, and will unite a pharmacy network of more than 600 pharmacies and EUR 750 million in revenues across six markets.
After completing the deal, there will be no changes for the pharmacies operating under the Apoteksgruppen umbrella and brand, meaning Euroapotheca will continue to fully support all franchisee pharmacies in the same way as is done under the present structure. Furthermore, Euroapotheca currently has no intention of amending the existing service agreements between AGHAB and the franchisees.
“We are delighted to announce these two milestone transactions for Euroapotheca and are excited to work with AGHAB’s management team to capitalize on the growth opportunities in the Swedish market and to expand the existing store network. By working together, we see significant scope for synergies in such areas as procurement and private label development”, says Raimonda Kižienė, CEO and Chairman of the Board of Euroapotheca.
Euroapotheca has almost 20 years of experience in operating pharmacies under various formats, from small convenience-led propositions to large shop-in-shop pharmacies, and has developed strong e-commerce capabilities.
Ms Kižienė continues: “We strongly believe in our unique offering for customers, who will benefit through better pricing and higher accessibility as well as increased choice and better service. Euroapotheca will deploy its extensive pharmacy retail knowledge to ensure the successful development of Apoteksgruppen going forward, both organically and through selective acquisitions. Additionally, we are impressed with the existing high-quality franchise model of Apoteksgruppen and view a number of attractive opportunities to leverage this in our other markets.”
Both transactions are subject to customary regulatory approvals.
Euroapotheca was advised by Rothschild & Co (M&A), Hammarskiöld & Co (legal) and PwC (financial, tax and commercial).
 185 pharmacies and 4 pharmacy shops (Apoteksgruppen Nära)
 156 privately owned and 3 owned by AGHAB