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Alliance Boots buys into the Latin American market

Alliance Boots buys into the Latin American market

Posted by Liliana Castaño on May 07, 2014

The pharmaceutical group, which owns health and beauty retailer Boots, has signed an agreement to buy Farmacias Ahumada (FASA), which is made up of two retailers Farmacias Benavides and Farmacias Ahumada, for $636m.

The businesses generate $1,416m annually.

Farmacias Benavides is the third largest retail pharmacy chain in Mexico, operating 1,000 stores, while Farmacias Ahumada is one of the three largest retail pharmacy chains in Chile with 400 stores.

The transaction is expected to complete in the third quarter of 2014.

Alliance Boots executive chairman Stefano Pessina said: “This acquisition will give Alliance Boots a major presence in the attractive Latin American market, one of our priority areas for investment. It is also a further step towards reaching a truly global footprint.

“The well-positioned retail pharmacy businesses of Farmacias Ahumada and Farmacias Benavides will be great additions to our group’s unique portfolio of retail, product and service brands around the world.

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