Geldards advise Frosts Pharmacy on Acquisition

Geldards have advised Frosts Pharmacy Limited on its acquisition of Lyndhurst Pharmacies Limited. The acquisition means that the business now has two pharmacy shops in Oxford in addition to its existing Banbury pharmacy which it acquired in 2009.

The deal sees Stuart Gale return to the retail pharmacy market after the sale of his family’s pharmacy company, John Frost Limited, to Alliance Boots in 2005.

Stuart Gale is the third generation pharmacist in his family. The family business goes back 85 years to the foundation of the first pharmacy in Sutton Coldfield by Stuart’s great-grandfather, John Frost.

Stuart Gale said: “The acquisition of Lyndhurst Pharmacies Limited was a great opportunity to fast-track our expansion plan and I think it will give us a good base from which to continue to build the business.

"Hugh Strickland at Geldards advised us on our sale to Boots five years ago and I was delighted to come back to Hugh on this transaction knowing that he understands the sector so well."

Geldards’ corporate partner Hugh Strickland said: “This acquisition is further evidence of our experience and reputation in the retail pharmacy sector, which has been enhanced by our recent recruitment of senior pharmacy lawyer, David Charlton.

"We are very pleased to have had the opportunity to work with Stuart again as he returns to the sector – we’ve seen a huge amount of work in this sector recently.”

The acquisition of Lyndhurst Pharmacies was funded by Santander Corporate Bank.