One of Staffordshire’s oldest chemists has hit the acquisition trail, buying rival Cowern & Hartsthorn for an undisclosed fee.
Cornwell’s, which has a history stretching back to 1835, has five branches in Stafford and Newcastle-under-Lyme. Its latest acquisition adds two more pharmacies in Cannock and Walsall to the chain and takes Cornwell’s total number of employees from 75 to 97.
Jonathan Mitchell, the chairman of Cornwell’s, said: “The purchase of Cowern & Hartsthorn is part of an ongoing strategy to grow the business and increase our footprint across the West Midlands. We already have a very strong and trusted brand in Staffordshire and we look forward to building on this within the towns of Cannock and Walsall.
“There’s certainly a strong cultural fit between the two businesses and I’m confident this acquisition will bring even greater success to the group in the future.”
Cornwell’s Chemists employs four therapists who provide complementary healthcare. This includes McTimoney chiropractic, hypno-psychotherapy, coaching, counselling, remedial massage, aromatherapy, reflexology, reiki, baby massage teaching, hydrotherm massage and personal training. It also operates a photo processing centre called 1st Cameras.
It was established 173 years ago as Baines Chemists and changed its name to TC Cornwell in 1884. It provides a wide number of services, ranging from dispensing over-the-counter and prescription medicines, to health advice and medicine reviews.
Accountants and business advisors Baker Tilly advised Cornwell’s on the transaction.
Anne Lakin, a partner at Baker Tilly, said: “Conwell’s Chemists has a great tradition in Stafford and Newcastle. This coupled with its high street locations and close proximity to GP surgeries provides an extremely loyal customer base.
“The business has continued to grow organically over the years and has competed well against the threat of supermarket pharmacies by successfully diversifying into new areas and offering quality healthcare advice. The company’s expanded branch network should provide an even stronger platform for future expansion.”
David Miller, at Knights Solicitors, provided legal support to Cornwell’s management team, and added: “Their professionalism and dedication, together with a friendly approach, clearly is the bedrock on which their continuing success is built.
“We, here at Knights, are sure that this latest acquisition will be of great benefit not only to Cornwells but to the previous employees of Cowern & Hartshorne and the customers of the pharmacies in Cannock and Walsall.”
