Clicks plans to acquire the retail pharmacy business of Pick n Pay, including 25 in-store pharmacies which will be rebranded to Clicks.
Clicks is the largest retail pharmacy network in the country and the acquisition will increase its national presence to 632 pharmacies.
In terms of the proposed transaction, Clicks will acquire the pharmacy licences and ethical drug stock, while all staff employed in the pharmacies will transfer from Pick n Pay to Clicks.
Vikesh Ramsunder, chief executive officer of Clicks Group, said: “The acquisition of the pharmacy chain from Pick n Pay accelerates our strategy of extending the convenience and accessibility of the Clicks pharmacy network.
Cloudebate™
Wednesday, 12 May 2021
Is it a get-rich-quick scheme or genuine alternative to traditional money?
Most of us have heard about it, but not many of us really understand cryptocurrency. Generally referred to as the original cryptocurrency, Bitcoin is a unique and non-governmentally issued digital money that has become more mainstream in recent years as its usefulness and reach have increased. Bitcoin specifically is widely known for the astronomic rises in its market trading value, as well as its spectacular losses in worth.
All this speculation in cryptocurrency does not relate to any inherent economic value creation, hence critics of Bitcoin, including value investor Warren Buffet, do not believe buying and selling Bitcoin to be a truly value-generative activity.
On the BizNews Power Hour, one of the leading South African hedge fund managers Jean-Pierre Verster dissects the Pick n Pay results and gives a high-level analysis of the food retail sector on the JSE. Jean-Pierre commended Richard Brasher for a solid tenure at the helm, leading the retail giant during a tough macro-economic backdrop where many peers went backwards. Although not overly-bullish on the sector as a whole, Jean-Pierre shares his opinions on the other big-hitters in the sector. – Justin Rowe-Roberts
Jean-Pierre on Pick n Pay’s performance during Richard Brasher’s tenure:
If we look back to the last 10 years between Raymond Ackerman’s age of 80 and 90, I think Richard Brasher has done a very good job. If we take ourselves back to when he joined, roughly eight years ago, there was a lot going on at Pick n Pay. They had just launched the Smart Shopper program, there was a sorting of franchisees, they were moving toward central distribution and they were expanding t
Jean-Pierre Verster on Pick n Pay job well done but prefers shopping at Woolworths
On the BizNews Power Hour, one of the leading South African hedge fund managers Jean-Pierre Verster dissects the Pick n Pay results and gives a high-level analysis of the food retail sector on the JSE. Jean-Pierre commended Richard Brasher for a solid tenure at the helm, leading the retail giant during a tough macro-economic backdrop where many peers went backwards. Although not overly-bullish on the sector as a whole, Jean-Pierre shares his opinions on the other big-hitters in the sector. – Justin Rowe-Robets
Jean-Pierre on Pick n Pay’s performance during Richard Brasher’s tenure:
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