CI Coop takes control of Pharmacy Locale

Monday 13 January 2014

The Channel Islands Co-operative Society has acquired a majority share in Pharmacy Locale.

The Co-operative invested in a 25% shareholding in the business in 2007 and has spent time learning about the pharmacy industry and understanding the market. Pharmacy Locale currently operates three pharmacies in Guernsey and five in Jersey, two of which are located in Co-operative stores at Grand Marché St Helier and Grand Marché St Peter.

All pharmacies will continue to trade as usual it's not expected that any jobs will be lost.

‘We have exciting plans to further develop the pharmacy business in both islands and our investment in Pharmacy Locale will enable us to deliver an additional range of benefits to our members. Pharmacies provide an essential service within our communities and we are pleased to be able to be part of this,’ said Mark Cox, Channel Islands Co-operative Society’s Chief Operating Officer.

Following the transition period, the Society plans to offer dividend to members on products sold within the pharmacy (with the exception of prescription drugs).

Phil Romeril and Bryan Eden of Pharmacy Locale will remain within the business and take on senior manager roles, while John Garner will retire.

‘We are delighted to announce the strengthening of our link with The Co-operative. We have worked together for the last six years to consolidate and grow our pharmacy business and now is the right time to take our relationship to the next level. The Co-operative will bring new investment and opportunities to the business as well as providing security to the colleagues who have worked with us over the years,’ said Mr Romeril.