Dundee law firm Blackadders has facilitated the purchase of 37 chemists across Scotland in deals worth more than £35 million.
The multi-million-pound deals have been secured between 18 Blackadders clients and Lloyds.
Earlier this year, Lloyds announced it was selling off its portfolio across Scotland.
Some Blackadders clients used the opportunity to expand their portfolio. Others have been bought by young pharmacists starting out on their ownership journey.
The deals have involved multiple parties including financial backers, banks and selling agents.
Blackadders chairman praises team effort
The Blackadders team behind the deals was led by chairman Peter Duff.
He said: “This is an area we specialise in and pulling these deals together was a fantastic team effort.
“Everyone involved has done a really good job. Our clients now have new businesses and tremendous opportunities to grow their ventures under their own brands.”
One client bought 11 outlets and Blackadders is understood to have been involved in around 20% of all the sales of Lloyds’ branches in Scotland.
Blackadders associate Richard Wilson and commercial real estate solicitor Natalia Bell were also involved with the deals.
Mr Wilson added: “Pulling all these deals together in a relatively short space of time was a challenge but once the team got into the swing of it, we managed to secure all the outlets our clients wanted.”
‘Real potential’ in chemists, says Dundee law firm Blackadders
Blackadders has been involved in the pharmacy sector for many years. It has clients across the country.
Ms Bell said: “We have a lot of clients in this sector and like them, we see real potential in the opportunities presented by the Lloyds divestment programme.
“It’s great to work with so many young chemists as well as established operators and we look forward to working with them in the future as their businesses grow and expand.”
Blackadders has enjoyed a highly successful 12 months with increased activity in the corporate and commercial area.
The firm has also recently developed a new brand under the join managing partners Emma Gray and Ryan McKay.
The black and yellow colours traditionally associated with Blackadders have been replaced by aqua and purple colours.
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