Clicks to acquire Pick n Pay's pharmacies

South African pharmacist Clicks said on Monday it planned to acquire 25 in-store pharmacies, their drug stocks and staff from retailer Pick n Pay .

In a joint statement the companies said the sale, subject to regulatory approvals, would not have a material impact on the earnings or financial position of either of them.

Clicks, which will rebrand the pharmacies, has been on a drive to extend the reach of its network. This latest acquisition increases its number of outlets to 632 nationally.

Pick n Pay Chief Operating Officer Adrian Naude said its small pharmacy division was not part of its future growth strategy.

Reuters