Sale of Local Pharmacy

Published on: 1 November 2016

Luke Curran & Co. have concluded the swift sale of a local pharmacy in the Newry area.

In a short period of time from agreement of Heads of Terms to the Completion Date the Company had been sold by way of a Share Sale Agreement (with typical warranties and disclosure letter).  Drafting and negotiation of agreements together with Legal Due Diligence was undertaken by solicitors and accountants on both sides of the transaction without delay to allow the deal to progress in a timely fashion.  Not unlike any other deal there were hurdles met along the way.  Thanks to a great deal of pragmatism on both sides none presented as an obstacle to the common goal.  On completion all procedures and forms were perfected in accordance with Company Law.

The transaction also involved the negotiation of terms regarding an occupational Lease of the Premises which in itself required a suite of documents including an Agreement for Lease, Lease and Licence for Alterations in addition to providing title and answering commercial pre-contract enquiries.

Despite the amount of work involved and the safeguards required the transaction concluded smoothly and to the satisfaction of all parties.

Our solicitors have been acting for pharmacies for many years over which time we have acquired a great deal of experience.  We know the difficulties they encounter within:

  • sale or purchase of the business,
  • business structure,
  • pharmacy licences,
  • leasing, buying and selling pharmacy premises
  • employment issues.

We can act for locums making their first acquisition, owner managed pharmacies and companies with a number of branches.

We have a strong relationship with advisors who also specialise in this area including accountants, lenders and surveyors.  Together we work closely with our clients to guide them through the process and watch as their business grows.