Hogan Lovells advises Well Pharmacy on its acquisition of pharmaceutical wholesaler Lexon UK

The Bestway group, which has an annual turnover of over £4.5 billion, is a diversified family-owned business with interests in wholesale, banking, cement, real estate, and pharmaceuticals. The group has been looking for a target to expand its footprint and complement its growth trajectory.

Lexon has been in operation for over 25 years and operates primarily as a pharmaceutical wholesaler serving 3,000 retail pharmacy customers across the UK and Ireland. The business also operates over 40 community pharmacies (currently trading as Knights Pharmacy) and is also a specialist developer and manufacturer of generic pharmaceuticals as well as a provider of data solutions to the pharmacy sector.

The Hogan Lovells team was led by corporate partner Nicola Evans with support from senior associate George Hanna, associates Akhil Parekh and Alex Miller, and lawyers Susan Lee, Rory Hazelton and Sibylla Ward. Jo Robinson advised on the financing for the acquisition, with support from senior associate Becky Powell and associate Hyerin Park.  Colleagues from the tax, finance, pharmaceutical regulatory, real estate, employment, information technology, pensions, intellectual property, privacy and cybersecurity and insurance practice areas also assisted on the deal.

Commenting on the transaction, partner Nicola Evans said: "We’re thrilled to have been able to advise long-standing client Bestway on this strategically important acquisition which will enable the group to grow its commercial business and bring in even greater benefits to both community pharmacies and patients."