First details revealed for new £5m battery pack production facility in Northamptonshire

Software-accelerated battery pack developer, IONETIC, has revealed the first details of an all-new £5 million smart battery production pilot facility in the UK. Called Arc Fab Pilot, the phase one battery pack manufacturing plant in Brackley is set to be brought online in 2025 and has been designed to significantly slash the time-to-market and development costs for electric vehicles – reducing risk for automakers needing custom battery packs and providing a local approach to battery-pack manufacture in light of ongoing uncertainty affecting the EV sector. The 5,000 sq ft facility will also serve as IONETIC’s global HQ and industrialisation centre, creating 30 high-skill jobs in its first phase. The £5 million Arc Fab Pilot facility will be fully-operational by Q3 2025, having opened in Q4 2024, marking a key step in IONETIC’s mission to provide specialist OEMs – such as those producing trucks, buses, off-highway and commercial vehicles – with a rapid, cost-effective route to high-quality, customised EV battery packs. James Eaton, CEO and Co-Founder of IONETIC, said: “With EV adoption accelerating, OEMs need effective, flexible battery solutions. By embedding agility into the core of our production model, we’re removing the most significant barriers to custom EV battery production; cost, time, risk and scalability. “Arc Fab Pilot will be the first step towards unleashing the potential of our Arc technology stack, allowing us to produce custom battery packs at a speed and price point that the current market simply doesn’t allow for, from right here in the UK.” The Arc Fab Pilot Facility will use automation hardware and integrated control systems from Rockwell Automation, as well as software such as Emulate3D platform to build comprehensive digital twins of IONETIC’s production facilities.

Mansfield School secures £2.5M refurbishment contract

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High Oakham Primary School in Mansfield has been awarded a £2.5 million refurbishment contract as part of Nottinghamshire County Council’s School Building Improvement Programme. Scheduled to begin later this year, the project will involve critical upgrades, including a new roof, lighting, ceilings, and fire alarm systems. These improvements ensure the school meets modern safety standards and supports a productive learning environment.

Arc Partnership, a joint venture between Nottinghamshire County Council and SCAPE, will manage the project’s design and delivery. They will use their expertise in public sector construction to oversee cost management and project execution. This partnership highlights the growing trend of public-private collaborations in large-scale infrastructure projects.

The project is expected to create significant opportunities for local subcontractors in the construction, design, and materials sectors, potentially boosting the local economy. The refurbishment aligns with the council’s ongoing efforts to invest in public sector buildings, demonstrating a commitment to improving facilities while offering businesses the chance to engage in high-value public contracts.

Rutland and Kings Veterinary Centres strengthen services with Linnaeus partnership

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Rutland and Kings Veterinary Centres, a prominent veterinary group in the East Midlands, has joined the Linnaeus network, enhancing their services and facilities. The group includes four Rutland sites and two Kings branches, with the Syston location recently undergoing significant expansion, adding more theatres, consult rooms, and additional facilities.

The merger also facilitates the relocation of Kings’ Melton Mowbray practice to a larger, purpose-built facility that includes specialised rooms for dental procedures, two theatres, and modern imaging capabilities.

The integration with Linnaeus will offer staff expanded training and development opportunities while ensuring the continuation of the high-quality care Rutland and Kings are known for. The practices remain committed to supporting new graduate veterinary surgeons and student nurses, with staff holding advanced qualifications in multiple specializations.

Linnaeus is poised to support the teams in delivering 24/7 emergency care and compassionate service to the local community.

Nottingham Council property auction raises over £10 Million

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Nottingham City Council has raised over £10 million through an auction of its properties, with some assets fetching up to 30% above their expected sale prices. The auction, hosted by Acuitus, attracted significant interest from local and national investors, with 79 registered bidders.

Among the sold assets was Mortimer House, a Grade II listed property located opposite Nottingham Castle. This building, which houses the Castle pub and the Fothergills restaurant, along with offices and residential flats, was sold for £1.55 million. Despite the sale, business continues as usual for the operators, who hold a secure lease. The identity of the new owner has not been disclosed.

A car park at a Morrisons supermarket in Clifton also saw intense bidding, ultimately selling for over £1 million—more than double its guide price. Other notable sales included three freehold investments on Salisbury Square Industrial Estate, which raised between £1.4 million and £1.7 million, and an industrial site with eight units at Gauntley Court, which sold for £1.8 million.

The sales come as Nottingham City Council seeks to address financial challenges following its declaration of bankruptcy in November 2023. The council has increasingly turned to asset sales to fund operational costs, with the liquidation of Robin Hood Energy, a venture set up by the council, leaving significant unpaid debts. The final liquidation report revealed claims totaling £67.1 million, with only £13.7 million of those debts paid out.

Planning consent secured for completion of Dove Valley Park

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Plans for the completion of Dove Valley Park (DVP) have been unanimously approved by South Derbyshire District Council. The consented development will transform an area of land adjacent to Dove Valley Park into a centre of employment, creating local jobs and bringing economic benefits to Derbyshire. It will complete the overall development of the business park at Dove Valley Park, forming the eastern part of the major 200-acre employment site on the A50 in South Derbyshire that is home to occupiers including JCB, Top Hat, Futaba Ltd and GXO. The detailed planning consent will allow immediate development with the existing infrastructure of Dove Valley Park already in place to extend into the site. Once developed, the 35-acre site will create over 700,000 sq ft of employment space for B2, B8, with ancillary E(g) use. Four units of varying sizes will be created to meet market demand for quality industrial space, along with the necessary associated hard and soft landscaping, car parking and infrastructure. In addition, a new Innovation Centre will be developed that will serve as a central hub for all businesses in the local vicinity. The Innovation Centre is designed to draw people together and provide space for gatherings, informal meeting space and access to external areas. There will also be a cafe/restaurant and amenity space. The Innovation Centre will also serve as a place for start-up businesses and has been developed in consultation with The University of Derby. Commenting on the consent, Marc Freeman, Director at Clowes Developments, said: “On Tuesday 18th February, our detailed planning application for the final phase of development at Dove Valley Park was unanimously approved at committee. “This will not only bring over 700,000 sq ft of employment space to Foston, but also provide an Innovation Centre with essential amenities, a central hub for businesses and an opportunity for startup businesses at the thriving business park. We are delighted to be able to press on with construction which will see Dove Valley Park fully developed. “We are aiming to start works onsite before the end of the year.” As part of the consent, a new bus route will be created to provide essential public transport links from Derby City Centre directly to Dove Valley Park. This will complement the existing bus route from Uttoxeter to the business park with timings amended to match employee shift patterns on site. Tom Morley, Senior Land and Planning Surveyor at Clowes Developments, said: “We have worked closely with both South Derbyshire District Council and Derbyshire County Council to research existing routes, this also included canvassing opinion of current occupiers on the existing service to DVP and how it could be improved to meet the needs of its users. “Through extensive consultation Dove Valley Park Limited have been able to identify the necessary requirements to help grow and develop the existing service. The service will see additional stops through Derby City meaning DVP will become even more accessible to current and future occupiers and their employees.”

Towcester warehousing development rejected by Council, now set for appeal

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A proposal to develop an 11-hectare business site in Towcester, Northamptonshire, is set to go to appeal after being rejected by West Northamptonshire Council. The plan, which includes warehousing and other commercial buildings, aims to create 500 jobs and contribute approximately £15 million annually to the local economy.

The site is next to the Bell Plantation garden centre, with close access to major roads like the A43 and A5. However, highways authorities have opposed the development due to concerns over potential traffic impacts. Over 70 objections were raised by the public, prompting council members to reject the plan despite a recommendation from council officers for approval.

The decision now rests with the government’s Planning Inspectorate. The developer, Alban Mann LLP, defended the proposal, stating that the site was aligned with the area’s intended purpose and could provide essential employment opportunities. They also expressed concerns that the project was unfairly being compared to another warehousing development rejected earlier due to public objections.

The site would feature several small to medium-sized buildings if approved, marking a significant addition to the local business landscape.

Rykneld Homes adds director to newly-formed executive team

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Lucy Gebbie will take on the role of Director of Corporate Resources at Rykneld Homes. Lucy will step up from her current position, Head of Corporate Services, to join the newly-formed executive team with immediate effect. Lorraine Shaw, MD, said: “Lucy is an excellent addition to the executive team and we’re looking forward to putting some of the excellent ideas she brought to interview into practice. “Gatenby Sanderson did a great job of attracting some really strong candidates and managing the recruitment process with us.” Rykneld Homes manages around 7,600 properties across North East Derbyshire on behalf of the district council. Lucy’s portfolio will include governance & regulation, finance, ICT & digital, people & organisational development, compliance & disrepair, customer services, communications and business development. She said: “I’m looking forward to building on my existing Rykneld Homes experience as part of the executive team. “The new role will give me the opportunity to continue managing and elevating the work of the excellent teams we already have in place here.” Deputy MD, Niall Clark added: “Taking on this new role as a key member of the executive team and during an exciting and transformative time, Lucy will be integral in helping shape the medium and long term future of Rykneld Homes.”

East Midlands unemployment falls but concerns over higher hiring costs remain

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Unemployment among over 16’s in the region has dropped to 4% but the impact of additional costs like increased National Insurance contributions could lead to lower recruitment says East Midlands Chamber. The latest estimated figures from the Office for National Statistics for unemployment are lower than the UK level of 4.4% and cover the period between October and December 2024. The East Midlands figure is 0.6% lower than the previous three months in the region. East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “While it’s encouraging that unemployment has gradually fallen in the East Midlands and is 1% lower than a year before when it was 5%, research we’ve carried out among the region’s businesses over their recruitment and investment intentions doesn’t paint such a pretty picture. “However we look at this, there’s just no hiding from the fact businesses will be hit with a hiring cost hike from April due to factors like increased National Insurance contributions. “East Midlands businesses have indicated they plan to reduce their recruitment spend over the course of 2025. In our Quarterly Economic Survey the number of businesses in the region planning to cut back on recruitment jumped from 9% to 22% – the fact it doubled over three months is significant. “Only 6 out of 10 plan to keep recruitment the same, which was a slight fall from the previous survey, and we could see that number drop further. “Businesses will be looking to the government’s comprehensive spending review for a clear strategic and delivery plan that will drive economic growth, giving business the confidence to invest in their workforce.”

Labour MP Lilian Greenwood visits Nottingham Venues to discuss hospitality industry challenges

Nottingham Venues, the collection of independent venues specialising in meetings and events set within the University of Nottingham campus, has welcomed Labour MP for Nottingham South, Lilian Greenwood, to its East Midlands Conference Centre and Orchard Hotel for an insightful visit and discussion on the hospitality industry. The visit, organised by UKHospitality, brought together key figures from the sector to explore both local and national industry challenges and opportunities. During the visit, Lilian Greenwood was given a guided tour of the East Midlands Conference Centre and the 4* Orchard Hotel, both of which welcome tens of thousands of guests each year and make a significant contribution to the visitor economy in Nottingham. Following the tour, Lilian joined a roundtable discussion featuring representatives from across the hospitality industry, including Tom Waldron-Lynch (CEO of Nottingham Venues), Michele Somers (DHP Family Area Manager and Pubwatch Chair), Calum Brock (Regional Operations Director at Wagamama’s), Pete Terry (Managing Director at Disco Bowl Limited), Matt Kemp (Operations Director at Gastronomy) and David Sheen (Public Affairs Director at UKHospitality). Discussions focused on the current issues within the hospitality industry in Nottinghamshire and across the UK, touching on workforce, tax rises, sustainability, economic pressures, and future growth opportunities. Tom Waldron-Lynch, Chief Executive of Nottingham Venues, said: “We were honoured to host Lilian Greenwood and our colleagues from the hospitality sector. This visit provided a vital platform to discuss the challenges our industry faces and the opportunities that lie ahead. Engaging with policymakers like Lilian and industry leaders goes a long way in helping our sector overcome its challenges and in ensuring that it continues to thrive. “We hope that government will acknowledge the contribution hospitality makes to the UK economy. The industry could and should be a key part of the Government growth agenda and we hope the Government will put the right support in place for our industry.” Lilian Greenwood MP said: “Hospitality is a vital part of Nottingham’s and the UK’s economy, providing jobs, investment, and a thriving visitor experience. It was fantastic to meet with Nottingham Venues and industry leaders to discuss the real-world issues they are facing. I look forward to continuing to work together to support this essential industry.” UKHospitality, the leading trade body for the sector, facilitated the visit as part of its ongoing commitment to ensure that the voices of hospitality businesses are heard by policymakers and decision-makers across the UK. David Sheen, Public Affairs Director at UKHospitality, said: “It was brilliant to facilitate this meeting with Lilian Greenwood MP and demonstrate firsthand the impact businesses like Nottingham Venues has on local jobs, growth and communities. “Nottingham has a thriving hospitality scene and is just one of many examples of how hospitality businesses can be the engine of economic growth in the UK.”

Plans paddle ahead for Peak UK’s new kayaking HQ

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Peak UK Kayaking Co Ltd has been granted planning permission by Derbyshire Dales District Council to redevelop the former Cromford Garden Centre into a new headquarters, community hub, and activity base called Carrwood Mill. This development will provide enhanced opportunities for children to engage in kayaking while supporting local heritage and sustainability initiatives. Located adjacent to the Cromford Canal, the site will also accommodate PaddlePeak, Peak UK Kayaking’s charitable organization, which promotes youth participation in kayaking and coordinates environmental conservation efforts along the River Derwent. For over 30 years, Peak UK has been at the forefront of kayaking apparel and equipment manufacturing, supplying elite athletes, including Olympians. As demand for its products has grown, the company has sought to expand its operations, selecting the former Cromford Garden Centre as an ideal location for its next phase of development. This initiative will reintroduce textile manufacturing to the Derwent Valley Mills World Heritage Site, aligning with the region’s industrial heritage. The site, which had remained vacant and overgrown for more than a decade, will be revitalized, contributing to both the local economy and environmental sustainability. Given the site’s brownfield status within a World Heritage Site, careful planning and heritage considerations were essential. James Boon Architects, with extensive experience in heritage-related projects, led the architectural design. In collaboration with Planning & Design Practice, comprehensive Heritage Impact Assessments were conducted in accordance with ICOMOS guidelines to ensure the proposal respected the historical and environmental sensitivities of the location. The design incorporates sustainable materials such as local stone and wooden cladding, along with low-energy lighting and air-source heat pumps, in a commitment to environmental responsibility. This development will not only enhance local infrastructure but also create 12 new jobs. The facility will contribute to the long-term environmental sustainability of the site while fostering community engagement through kayaking activities and conservation initiatives. Planning & Design Practice said: “We are delighted to have been involved in this significant project and look forward to seeing Carrwood Mill and its positive impact on the local area.”

UK inflation jumps

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UK inflation jumped in January, according to new figures from the Office for National Statistics (ONS). Measured by the Consumer Prices Index (CPI), inflation came in at 3% in the 12 months to January, up from 2.5% in December, and above expectations (2.8%). The largest upward contribution to the change came from transport, and food and non-alcoholic beverages; the largest downward contribution came from housing and household services. Core inflation, meanwhile, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, stood at 3.7% in the 12 months to January, increasing from 3.2% in December and in line with expectations.
Martin Sartorius, Principal Economist, CBI, said: “The stronger-than-expected rise in inflation in January highlights the challenges facing the Monetary Policy Committee as they seek to rein in persistent price pressures. Higher energy prices, strong wage growth, and the impact of Autumn Budget measures are likely to keep inflation above target this year. “While we still expect a gradual, quarterly pace of rate cuts throughout 2025, this inflation surprise raises the possibility that the MPC might tread even more carefully as it looks to reduce borrowing costs.”

Government confirms £110 Billion gas field in Gainsborough will remain untapped

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The UK government has confirmed that a newly discovered gas field beneath Gainsborough, estimated to be worth £110 billion, will remain untapped. Despite its potential to create thousands of jobs and contribute to the nation’s energy supply, the government has announced it will not issue new licenses for onshore gas extraction. The ban will remain in place due to concerns about seismic activity caused by the drilling process.

The gas field in the Gainsborough Trough beneath West Lindsey is expected to be formally announced by energy company Egdon later this month. However, the government remains committed to its renewable energy strategy, focusing on reducing dependency on fossil fuels. A spokesperson emphasised the shift towards clean energy by 2030, underscoring the potential economic benefits of this transition, particularly in industrial regions.

While local politicians have expressed concerns, with some calling for a reevaluation of the fracking ban, the government has reiterated its stance on protecting the economy and the environment. There is also no guarantee that private companies extracting the gas would prioritize domestic use over exports.

Despite the local support for the field, the government’s strategy continues to prioritise renewable energy investment, particularly in wind and solar power, as part of its long-term energy security plan.

Temporary banking hub to open in Bakewell following NatWest closure

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A new temporary banking hub will open in Bakewell, Derbyshire, at the Agricultural Business Centre (ABC) by the end of February 2025. This comes after NatWest, the last bank in the Peak District National Park, closed in February 2024. Despite strong opposition from local residents and politicians, including Derbyshire Dales District Council (DDDC) leader Steve Flitter, the closure proceeded, leaving the area without any banking facilities.

In response, the DDDC worked with LINK, the UK’s cash access network, and secured the temporary hub. Cash Access UK, a not-for-profit organisation funded by major high street banks, will manage the hub. This facility will provide essential banking services, including cash deposits, withdrawals, cheque payments, bill payments, and utility top-ups, from Monday to Friday, 9:00 am to 5:00 pm. A community banker will also be available one day a week to address more complex inquiries.

The new hub is part of a broader initiative to improve access to banking services across Derbyshire. The Bakewell hub will be the fifth facility in the county, joining those in Belper, Clay Cross, and Shirebrook, with another planned for Ashbourne. This development aims to fill the gap left by the closure of high street branches, ensuring residents and businesses can continue to access essential banking services.

Alan Simpson named EMCCA’s sustainable travel ambassador

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Alan Simpson has been appointed as the sustainable travel ambassador for the East Midlands Combined County Authority (EMCCA). A former MP with a background in sustainability and environmental policy, Simpson has advised on climate and energy issues for both the Welsh Assembly and the UK Parliament.

His appointment comes as EMCCA prepares to develop its first Local Transport Plan, aiming to improve regional connectivity and promote low-carbon travel options. Mayor Claire Ward has emphasised sustainable travel as a priority, with a focus on making walking, cycling, and other eco-friendly transport options more accessible.

Businesses and local authorities will be watching how EMCCA allocates resources to infrastructure and policy changes that could impact regional transport and logistics.

Duncan & Toplis expands into Derbyshire with Underwood Green Acquisition

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Duncan & Toplis has acquired Derby-based accountancy firm Underwood Green, marking its expansion into Derbyshire. The acquisition is part of the firm’s ongoing growth strategy and coincides with its 100-year anniversary.

Underwood Green will rebrand under Duncan & Toplis, with all employees, including directors Gary Underwood and Richard Green, remaining in their current roles at the firm’s Pride Park office in Derby. The deal follows Duncan & Toplis’ recent acquisition of North London-based ALG, further extending its reach across the Midlands and beyond.

The acquisition allows Duncan & Toplis to strengthen its presence in Derbyshire while expanding its service offerings. The firm is also looking to grow its tax advisory team and is actively recruiting. The deal has received full regulatory approval, and Duncan & Toplis continues to explore further acquisitions.

Premier Inn plans expansion and rebrand in Cleethorpes

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Premier Inn is seeking approval from North East Lincolnshire Council for a 32-room expansion at its Cleethorpes location on Kings Road. The hotel chain also plans to rebrand an adjacent Brewers Fayre restaurant, which closed in July, for exclusive use by hotel guests. Whitbread, the parent company of both brands, would retain the ground-floor dining and bar area, with 20 additional rooms set for the first floor. If the proposal is approved, the hotel’s total room count will rise to 116, and parking capacity will increase by five spaces to 120.

This follows a similar application made last year for the Premier Inn in Grimsby, where the hotel intends to add 20 new rooms and rebrand a Brewers Fayre restaurant to bring the total capacity to 78 rooms. A decision on that expansion is still pending.

Topps Tiles faces CMA scrutiny over acquisition of CTD Stores

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The UK’s Competition and Markets Authority (CMA) raises concerns over Topps Tiles’ recent acquisition of 30 stores from CTD Tiles, warning that the deal could reduce competition in four UK regions. The £9 million acquisition followed CTD’s administration in 2024, with the company being the second-largest specialist tile retailer in the UK.

The CMA’s investigation has identified potential risks for businesses and consumers in Dorking, Edinburgh, Inverness, and Aberdeen. The merger could lead to higher prices and reduced service quality. Complaints have been raised about the impact on local competition, particularly for retail customers and businesses reliant on tile supply.

The Leicestershire-based Topps Tiles has until February 24 to submit proposals to address the CMA’s concerns. If the company fails to do so, the deal could face a more detailed investigation.

While Topps has committed to cooperating with the CMA, the acquisition has raised red flags among its largest shareholders. MS Galleon, which holds a significant stake in Topps, has expressed concern that the deal was overpriced and does not align with the company’s long-term strategy.

UK launches new visa programs to tackle labour shortages

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The UK is grappling with significant labour shortages across multiple sectors, placing considerable strain on its economy. In response, the government has rolled out new visa programs designed to attract international workers to fill critical roles. Sectors such as agriculture, healthcare, construction, and hospitality bear the brunt of the staffing gaps.

Agriculture has been hit particularly hard, as farms traditionally rely on seasonal foreign workers for roles like fruit picking and farm assistance. With fewer local workers willing to take on these physically demanding jobs, the government has introduced the Seasonal Worker Visa to allow international workers to take up short-term positions, with wages ranging between £10.42 and £12 per hour.

There is an urgent need for roles such as nursing assistants and care workers in healthcare. The government has launched the Health and Care Worker Visa to help alleviate these shortages, offering positions with hourly wages from £10.75 to £16.00, aimed at attracting skilled workers from abroad.

The construction sector is also experiencing high demand for skilled tradespeople, including bricklayers, electricians, and plumbers, with competitive pay rates of up to £25 per hour. The Skilled Worker Visa has been expanded to target this industry, enabling foreign workers with the qualifications to fill these positions.

Meanwhile, the hospitality sector, which has seen a surge in demand post-pandemic, is struggling to hire enough staff for roles like chefs, waiters, and hotel receptionists. The Skilled Worker Visa and Temporary Work Visa are being utilized to meet this need, with salaries ranging from £10.50 to £14 per hour.

The government’s expanded visa pathways include the Seasonal Worker Visa for short-term roles, the Skilled Worker Visa for long-term, skilled positions, the Health and Care Worker Visa focused on the healthcare sector, and the Temporary Work Visa for industries with fluctuating demand like hospitality and retail.

These initiatives are part of a broader strategy to ease labour shortages by providing sectors access to a larger pool of international talent. As the UK faces ongoing workforce challenges, these visa programs offer a crucial solution for industries struggling to maintain operations.

Notts TV to close down

After more than ten years of bringing local news to the city and county, Nottingham Trent University (NTU) will not be seeking to renew its licence from Ofcom to run Notts TV after November 2025 when the current licence expires. Notts TV is an independent broadcaster, entirely owned and mostly funded by Nottingham Trent University. In November 2025 Notts TV’s broadcasting licence will be up for renewal. This has provided NTU with an opportunity to consider if Notts TV delivers sufficient benefit to its students at a time when all organisations in and around the public sector are operating with constrained budgets. Whilst students who have had placements with Notts TV have gained significant real work experience, NTU says the numbers involved have been too small to warrant continued investment. NTU hopes that other organisations will step forward to submit proposals to Ofcom to continue focused local broadcasting and pick up the baton that NTU has been holding aloft since May 2014. In the meantime, it is NTU’s intention that Notts TV will continue to broadcast for the duration of its remaining licence period at which point it will close down.

New owner for Ibstock pharmacy

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Specialist business property adviser, Christie & Co, has sold Peak Pharmacy in Ibstock, Leicestershire.
Founded in 1981 by Peter Cattee, Peak Pharmacy is an independent pharmacy chain with circa 150 pharmacies across the UK. This branch in the town centre of Ibstock is a standard hours community pharmacy that dispenses an average of circa 2,700 items per month. Peak identified the pharmacy as suitable for disposal due to the low item numbers and, as such, it would be more suited to an owner-operator. Following a confidential sales process with Carl Steer at Christie & Co, it has been sold to Jayesh Hotchandani, a first-time buyer who will be relocating to Leicester to operate the pharmacy hands-on. Carl Steer, Director – Pharmacy at Christie & Co, said: “We have been pleased to act for Peak Pharmacy to divest of some of their smaller branches in recent years. All the completed sales have been sold to first-time buyers who will go on to operate the pharmacy with a hands-on approach. Jayesh, I am certain, will be successful and drive the business forward under his ownership.” Peak Pharmacy was sold for an undisclosed price.