The health, beauty and pharmacy retailer will gain lucrative pharmacy licences through the deal, while Pick n Pay will continue to attract the same customers without having to foot the costs of running a dispensary.
In a deal that makes sense for both retailers, Clicks is buying Pick n Pay's retail pharmacy business as it accelerates the expansion of its network across the country. The transaction includes 25 in-store pharmacies which will be rebranded to Clicks.
The health, beauty and pharmacy chain said it would acquire the pharmacy licences and ethical drug stock from Pick n Pay, while all staff employed in the pharmacies would transfer from the supermarket group to Clicks.
In April, Clicks said it planned to speed up its store expansion with the opening of 40 new stores and 36 pharmacies this year - excluding those acquired from Pick n Pay. At the end of February it had 760 stores in total and 601 pharmacies. The acquisition takes its national presence to 632 pharmacies.
"Currently 50% of the country's population live within six kilometres of a Clicks pharmacy, and we aim to improve this over time as we get closer to customers," Clicks CEO Vikesh Ramsunder said....