Pharmacy operator, Raimes Clark & Company Limited – which trades as Lindsay & Gilmour – has acquired two pharmacies after securing a £3 million finance package from HSBC, taking its portfolio to 28.
The acquisition finance has supported the purchase of John A Smith and Craigmillar Pharmacy in Edinburgh in line with the company’s growth strategy in East and Central Scotland. The two pharmacies employ 22 members of staff between them which brings Lindsay & Gilmour’s total number of employees to more than 260 across its 28 pharmacies.
Nigel Cumming, Chairman of Raimes Clark & Company Limited, said: “As ambitious business owners we are always looking for the next investment opportunity to support our growth plans. HSBC has been instrumental in helping us achieve this latest round of acquisitions and it continues to support our evolving business needs. We look forward to furthering the relationship we’ve had with the team since 2014.”
The finance from HSBC was allocated from the bank’s national £10 billion SME Fund to actively support UK SMEs. £450 million is specifically designated to support Scottish firms and rebalance the economy outside of London.
Kenny White, Relationship Director at HSBC, said: “Raimes Clark is a firmly established player in the Scottish pharmacy sector and we’re pleased to support its ongoing growth and acquisition strategy. The business has delivered a quality service across Scotland for generations and these latest acquisitions will help it reach even more customers.”
This year the family-run company marks its 200th anniversary having started trading in 1816, ten years before the first Lindsay & Gilmour pharmacy starting trading from its current site in Edinburgh’s Elm Row in 1826. Now the award-winning pharmacy operator has a portfolio of 28 pharmacies.
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