The M&D Green Group, a family business and Scotland’s leading independent pharmacy chain, has completed the acquisition of nine Scottish based community pharmacies from Northern Ireland headquartered N.R. Gordon Ltd.
The multi-million pound deal will bring the number of community pharmacies in the group to 42, employing 750 highly skilled staff. The nine pharmacies currently trading as Gordons Chemist will change to the M&D Green brand.
Founded in 1996 by current Managing Director, Martin Green, the business, which provides NHS and private services, is now established across Scotland in Glasgow, Edinburgh, Ayrshire, Renfrewshire, Lanarkshire, Inverclyde, East and West Lothian, Dumfries and Galloway, Fife, Argyll & Bute, Dunbartonshire, the Highlands. The first pharmacy was opened by Martin Green in Dukes Road, Burnside, on the southside of Glasgow.
Martin Green, managing director of The M&D Green Group said: “We are a family business that has grown across Scotland by serving local communities with the services they want, and need. Gordons Chemist, which is a perfect fit for the M&D Green Group, has a well established reputation of providing high quality, professional healthcare to the patients and communities where their pharmacies are located and we will continue this good work and build upon the range of services offered and extend access to more patients. The Gordons Chemist brand will continue its strong presence in Northern Ireland.”
Grant Bett, Corporate Relationship Director at HSBC, said: “I am delighted HSBC have further backed Martin Green and the M&D Green Group with this latest major acquisition with additional funding support as well refinancing our existing debt facilities for a longer period, demonstrating our longer term support to Martin. It has been a pleasure working with Martin and the team at M&D Green on this transformational acquisition and for many years having now supported 24 acquisitions in their ambitious growth journey.
“The addition of a further nine community pharmacies demonstrates its ambition to provide high quality services to communities across Scotland, where HSBC are delighted to support, and demonstrates our commitment to the Pharmacy sector as we continue our own growth journey.”
Martin Green continued: “We look forward to introducing the 100 staff at Gordons into the 650 strong workforce at M&D Green and are certain our new colleagues will enjoy working in the M&D Green Group and will thrive in our learning culture as we aspire to further develop a highly skilled workforce to deliver the future of Community Pharmacy as we continue to develop our NHS and private, clinical services including additional services like blood testing, travel clinics and hearing care. We will also continue to introduce technology to make ordering and accessing prescribed medication easier and more convenient for patients.”
M&D Green Group was advised by Azets Corporate Finance and Blackadders LLP. The companies banking partners are HSBC which continues to support the growth ambitions of the Group.
Alan O’Riordan, Corporate Finance Partner at Azets, said “It has been a privilege to work alongside Martin and Julie and assist on the Group refinance as well as the acquisition of Gordons in Scotland. I am very proud of what the Azets team have achieved in delivering on this landmark transaction. Martin has built an incredible business over the years and this acquisition is yet another milestone in what continues to be an exciting journey. I look forward to seeing what comes next.”
Kirk Dailly, Head of Corporate & Commercial at Blackadders commented, “We were delighted to advise Martin, Julie and the M&D Green management team on the group’s largest acquisition to date and to support it with the renewal and extension of its committed bank facilities. It’s a privilege to work with M&D Green and we look forward to supporting the continued growth of this ambitious business.”
