The acquisition will see two new pharmacies in Dundee, in Menzieshill and Lochee, as well as units in Auterarder, Kirriemuir and Montrose.

The firm said that with all the new pharmacies being based in Tayside, the firm’s operations team and warehouse distribution channels will be close at hand to maximize efficiencies.

The Lloyds branches only have two Pharmacist Managers in place but Davidsons Chemists said it has plans in place to recruit three new Pharmacist Managers for the other three branches.

The firm will be bringing over approx. 35 staff into Davidsons and that will raise its total staff numbers to c. 700.

Davidsons Chemists said that the key matter at this stage isto make sure that the new pharmacies are fully transitioned into Davidsons culture which will allow them to put patients first and benefit from the synergies and experience of a large pharmacy group.