CCI invests in pharmacy group Sam McCauley Chemists

Under its new ownership model, Sam McCauley Chemists will retain a focus on the Irish market, with the GP stating it was aiming to capitalise on the growing number of over-65s in the country as well as an increased focus on healthier lifestyles. The business will also undertake an acquisitive growth strategy and is intending to double in size within five years.

Following the deal, the company's existing owner, Sam McCauley, will retain a significant stake in the business and will have a seat on the board, alongside CCI's Ian Daly and Jonathan Cosgrave.

Managing director Patrick McCormack will step down after 25 years with the company and Tony McEntee, formerly CEO of Allcare Pharmacy Group and finance director of Lifestyle Sports, will take on the role of CEO.

The deal for Sam McCauley Chemists is the eighth transaction made by CCI, which held its final close on €292m in July 2014. It follows investments in AA Ireland, Payzone, Carroll Cuisine, Lily O'Brien's, General Secure Logistics Services, Learning Pool and Abtran.

The transaction is subject to regulatory approval and is expected to complete during the summer period.

Company
Founded in 1951 and headquartered in Wexford, Ireland, Sam McCauley Chemists is a retail pharmacy business. According to a statement, the company had a turnover of €75m in 2015 across 30 stores. It has a headcount of around 600.

People
Carlyle Cardinal Ireland – Jonathan Cosgrave (managing director); Ian Daly (director).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Consumer
• Ireland
• Carlyle Group