Rowlands Solicitors has led one of this year’s biggest pharmacy deals, advising PCT Healthcare on its £80 million disposal to Co-op.

Formed in 2001, PCT Healthcare owned 99 outlets throughout the North, trading as Tims & Parker or Peak Pharmacy. The company sold 52 of these stores in the deal but will continue to operate 47. It employs 400 staff and has an annual turnover of £51 million. Founders Andy Parker, Geoff Tims and Peter Cattee, will continue to manage PCT.

It was a multi-discipline deal for Rowlands. Partner Derek Sands led the transaction, assisted by Paul Matthews. Partner Philip Bellamy dealt with all property aspects of the deal, assisted by Michael Stewart and Pippa Billingham. William O’Neill advised on all employment issues.

Sands commented:

"PCT has achieved incredible growth since it was founded only six years ago, led by a strong management team. The deal with the Co-op will allow the Group to continue to grow and indeed PCT bought another pharmacy in Manchester on the very same day that the deal with the Co-op was finalised.

This is the second major pharmacy deal Rowlands has advised on this year. We have also been involved in a number of smaller acquisitions in the sector. This deal confirms our position as leading experts in the field and demonstrates the firm’s ability to deal with substantial transactions, by bringing together a team from different disciplines within the practice."

Rowlands has also acted for number of pharmacy consortia in the North West, advising the members of the consortia as independent lawyers.

You can view our range of Commercial Services or contact us for further information.