With the sale of the Co-operative Pharmacy to Bestway Group finalised on 6 October, Co-operative membership cards can no longer be used at the pharmacy.
However, points earned in the Co-operative Pharmacy up to 5 October have been added to customers’ membership accounts, and can be used with other Co-operative Group businesses.
On 18 July, the Co-operative Group announced it had reached an agreement with Bestway Group for the sale of the pharmacy business for £620m. During an 18-month transition period, the Co-operative will provide certain services to the Pharmacy business, while Bestway has the right to operate under the Co-operative Pharmacy brand for 12 months.
Co-operative Pharmacy colleagues will remain employees of the Group until 2 November, when all employees will transfer to Bestway.
With 770 branches across the UK and 7,000 employees, the Co-operative Pharmacy was the third-largest pharmacy chain in the UK and the largest one in Wales. Last year it reported a turnover of £760m and an operating profit of £33m. However, the Group announced the pharmacy was no longer part of its long-term strategy and sold the business to reduce its debt and invest in its core businesses.
Bestway is the UK’s 18th largest privately owned company and seventh largest family owned business. With the acquisition of the Co-operative Pharmacy, Bestway is expected to have an annual turnover of £3.4bn, with a workforce of 32,600.