Wednesday, 04 November 2021 07:39

Honey Pharmacy acquires five new locations with funding package

Honey Pharmacy acquires five new locations with funding package

Glasgow-based Honey Pharmacy Group has acquired five new pharmacies across Scotland after securing a multi-million pound finance package from HSBC.

The company’s portfolio has grown from three to eight pharmacies, creating up to 40 new jobs and five traineeships in the process.

It acquired five new branches from the Apple Pharmacy Group in Edinburgh, Dundee and Polmont. Two further branches will open in Glasgow’s Alexandra Parade and Cathcart Road, and will retain the Apple Pharmacy name.

Following the expansion, Honey Pharmacy is expecting turnover to nearly triple from £1.8million to £5.8million. It is also improving the services it offers, including free prescription collection and delivery services.

Kasim Gulzar, pharmacist and owner of Honey Pharmacy Group, worked with business partner Asim Sarwar on the deal.

Kasim said: “We’re at the start of an exciting journey for Honey Pharmacy as the number of sites more than double and we take our personalised patient service offering across the country.

“We’re passionate about helping people and this funding from HSBC will not only allow us to reach more communities but also invest in staff through the pharmacist and technician traineeships and work experience programmes we offer in every pharmacy.”

Grant Bett, relationship director for HSBC Corporate Banking in Scotland, said: “Honey Pharmacy has an exciting future ahead as they build on their already strong Glasgow offering to open more Honey Pharmacy sites across Scotland. We’re pleased to start a new banking relationship and to be able support such an ambitious Scottish business through our dedicated SME fund for Scotland.”

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