S.Africa's Clicks to acquire retailer Pick N Pay's pharmacies

  • Reuters
  • Stock Market News
S.Africa's Clicks to acquire retailer Pick N Pay's pharmacies
Credit: © Reuters.

JOHANNESBURG, May 10 (Reuters) - South African pharmacist Clicks CLSJ.J said on Monday it planned to acquire 25 in-store pharmacies, their drug stocks and staff from retailer Pick N Pay PIKJ.J .

In a joint statement the companies said the sale, subject to regulatory approvals, would not have a material impact on the earnings or financial position of either of them.

Clicks, which will rebrand the pharmacies, has been on a drive to extend the reach of its network. This latest acquisition increases its number of outlets to 632 nationally.

Pick N Pay Chief Operating Officer Adrian Naude said its small pharmacy division was not part of its future growth strategy.

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