Rexall Pharmacy Group and online health retailer Well.ca are set to return to Canadian ownership after Toronto-based private equity firm Birch Hill Equity Partners announced a deal to acquire both brands from healthcare services company McKesson Corp, according to a report by The Canadian Press.
Texas-based McKesson is selling the businesses to focus on its oncology and biopharma divisions.
While Birch Hill did not disclose the financial terms of the agreement, the acquisition will add to the firm’s retail portfolio, which has previously included brands like Mastermind Toys, Sleep Country, and Ace Bakery. The deal will test Birch Hill’s retail expertise in the pharmacare industry.
Rexall, a major player in the Canadian pharmacy market, operates 385 stores nationwide and employs around 8,000 people. Well.ca, an e-commerce platform, offers over 40,000 health and wellness products online.
