Ashchem Chemists sold to Juno Health

Juno Health Limited has acquired Ashchem Chemists – an independent group of 15 pharmacies employing around 120 people in North East England – for an undisclosed sum. Initium advised the owner of Ashchem on the deal.

Ashchem was founded by Ash Aggarwal in 1981, and has since grown from a single pharmacy to a 15-branch network in and around Newcastle, Gateshead, Tyneside and Sunderland, employing 120 staff from pharmacists and dispensers to counter sales assistants.

Milton Keynes-based Juno Health is led by experienced CEO Mark Peatey, supported by a respected management team including Rupen Sedani (former superintendent of Sainsbury’s 277 pharmacies), COO Nick Clark (former UK Retail Operations Director at Lloydspharmacy), and Chief Commercial Officer David Gilder (formerly senior director at Lloyds Chemists PLC and Sainsbury’s). Juno’s board is led by non-executive chairman Richard Smith – formerly MD of Lloyds Pharmacy and CEO of Europe’s leading dental care provider IDH.

Mr Aggarwal said: “It has been an amazing journey growing Ashchem from a single outlet into the leading pharmacy chain in the region, and part of me is sad to leave it behind to start my retirement. Both staff and customers can rest assured that the business is in the safest of hands, led by one of the most experienced management teams in the industry.”