Cox Pharmacy in Nottingham, a standard hours community pharmacy that dispenses an average of 7,000 items per month, has been sold.
Located on Oakdale Road in the residential area of Bakersfield, a suburb east of Nottingham city centre, the business has been owned by Harts Chemist Limited for over a decade. It was brought to market to allow the owner, Jackie Hart, to reduce her workload whilst retaining two other pharmacies.
Following a confidential sales process with Carl Steer at Christie & Co, and with funding sourced through Raj Patel at Christie Finance, the pharmacy has been purchased by husband-and-wife pharmacists, Nathaniel and Angarju Amoah, who also own Jayplex Chemist nearby.
Carl Steer, director – pharmacy at Christie & Co, said: “We were originally instructed by Jackie Hart to sell Cox pharmacy back in Spring of 2022, when a sale was swiftly agreed for the goodwill and freehold; however, due to personal reasons, the sale could not continue.
“Fast forward to July 2024, and we were instructed to revisit the marketing. Within 12 weeks, a sale was agreed leasehold to Amoah and Angarju, who had bought Jayplex Chemist just a few miles from Cox Pharmacy from me in October 2022. I wish them all the best with their new venture.”
Raj Patel, finance consultant at Christie Finance, said: “Our clients, Nathaniel and Angarju, feel that this second acquisition gives them the ability to grow their business – they have consolidated on the first one, and now the second acquisition is a good strategic fit as both are in Nottingham.
“Their vision is to again consolidate the new pharmacy business post-acquisition and grow it. They have plans to acquire more in the future, and the banks are supportive of their vision.”
