Farmacias del Ahorro agreed to acquire Farmacias Benavides , an operation that will bring together two of the main chains in the pharmaceutical sector in Mexico and will give rise to a network with more than three thousand branches in the country.
The final agreement was announced on November 13 by Farmacias Benavides, whose majority shareholder, The Boots Group , reached an agreement to sell the company to Farmacias del Ahorro. The Boots Group is majority-owned by Sycamore Partners, in partnership with Stefano Pessina and his family.
The transaction also represents the return of Farmacias Benavides to Mexican hands , after more than a decade of being part of an international group.
With this acquisition, Farmacias del Ahorro seeks to expand its territorial presence and strengthen its offering of pharmaceutical and medical care services, by integrating the infrastructure and experience of both organizations.
“This agreement marks a new and exciting chapter for Farmacias Benavides, our team members, and the customers and communities we serve. For over 100 years, Benavides has been built on trust and care, and in Farmacias del Ahorro we have found a partner that shares our values and our commitment to the health of Mexicans,” stated Mauricio González, CEO of Farmacias Benavides.
For his part, Antonio Leonardo Castañón, co-founder and president of Grupo Farmacias del Ahorro, noted that the acquisition is part of the company’s growth strategy and its commitment to the Mexican market.
“We have always believed that business growth only has true meaning when it serves society. Through this historic investment, we will secure and strengthen a world-class healthcare platform that will proudly serve Mexico for generations to come,” he said.
Greater coverage in health services
The integration will allow Farmacias del Ahorro to expand the reach of its healthcare programs . According to Rafael Selvas Silva, the company’s CEO, it currently provides more than one million free medical consultations, distributes more than 500,000 essential medications free of charge through its loyalty program, and makes more than 800,000 free home deliveries each month.
The company stated that, once the transaction is completed, it will seek to leverage the capabilities of both chains to expand its coverage, develop new services, and generate greater savings options for consumers.
Farmacias Benavides has a history of over 100 years in the Mexican market, while Farmacias del Ahorro has been operating for 35 years. The combination of both chains represents a significant shift in the structure of the pharmaceutical trade and healthcare services in Mexico.
However, the transaction will still need to meet the usual closing conditions, including the corresponding regulatory approvals.
Until the transaction is finalized, Farmacias Benavides and Farmacias del Ahorro will maintain their operations as separate and independent companies.
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