Penningtons Manches advises on Hub pharmacy’s first acquisition of 2016

Posted: 26/01/2016

The Guildford office of Penningtons Manches has advised the Hub pharmacy on its acquisition of the Market Street, Hyde branch of HBS Pharmacy. The Hub pharmacy is a new community pharmacy group which specialises in investing in high-growth, high-impact businesses that address key societal and environmental challenges. Backed by Bridges Ventures, the Hub pharmacy now has 11 community pharmacies in the North of England. 

The Penningtons Manches pharmacy team was led by corporate partner Phil Walton. Commenting on the firm’s role, Steve Jeffers, CEO of the Hub pharmacy, said: “The assistance provided by Phil Walton and the team in our acquisition of the Hyde HBS pharmacy was a critical part of completing the transaction on time and on budget. The team understood our requirements immediately on appointment and enabled us to achieve all our legal objectives with the vendors and our bank. The transaction completed within eight weeks of instructing Penningtons Manches and the pharmacy is now successfully trading as the Hub pharmacy.”

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