Bestway acquires Co-operative Pharmacy

UK-based group to name new brand in 2015

KARACHI: Co-operative Pharmacy has officially become part of the Bestway Group, a global business with interests in wholesale cash and carry, cement and banking. This follows July’s announcement of a £620-million deal.

Bestway, which has the right to operate under The Co-operative Pharmacy brand name for a transitional period of 12 months, is expected to confirm a new name for the business before the end of the first quarter of 2015.



Meanwhile, the UK-based group has identified a number of sites in Manchester for the new headquarters of the pharmacy business.

Along with The Co-operative Pharmacy, which is the UK’s third largest pharmacy business, the group now consists of the UK’s second largest wholesale business, and both the largest cement manufacturer and second largest private bank in Pakistan.

The pharmacy acquisition marks a fresh move in the multinational group’s continuing diversification strategy.

“Since announcing the transaction, we have continued to be impressed by the business which has carried on performing strongly, operating ahead of the budget,” Bestway Group Chief Executive Zameer M Choudrey said.



He added Bestway was working with the Co-operative’s senior management to keep any disruption to the minimum. The Co-operative Group put its pharmacy business up for sale in February 2014.

Published in The Express Tribune, October 9^th, 2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.