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PRIVATE EQUITY FIRM BIRCH HILL COMPLETES PURCHASE OF REXALL AND WELL.CA

The Canadian Press - Wed Jan 1, 8:39AM CST


Toronto-based private equity firm Birch Hill Equity Partners has completed its
acquisition of the Rexall Pharmacy Group.

Birch Hill acquired the drugstore chain from previous owner McKesson Corp. in a
transaction that closed Dec. 30, according to documents filed with the federal
Competition Tribunal.

Financial terms of the deal, which was first announced in September, have not
been disclosed.

Rexall operates 385 pharmacies across Canada and employs about 8,000 people.

As part of the deal, Birch Hill also acquires Texas-based McKesson’s Well.ca
business, which offers more than 40,000 health and wellness products online.

McKesson says divesting Rexall and Well.ca will allow it to focus on expanding
its oncology and biopharma growth platforms.





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