Azets and Blackadders LLP advised M&D Green on the multi-million pound deal, which sees its network increase to 42 pharmacies across Scotland and now employs 750 staff.

The acquired locations, previously operating as Gordons Chemist, will be rebranded as M&D Green. Founded in 1996 by managing director Martin Green, the company provides both NHS and private healthcare services. The expansion strengthens M&D Green’s presence across Scotland, from Glasgow to the Highlands.

Mr Green said: “We are a family business that has grown across Scotland by serving local communities with the services they want, and need. 

“Gordons Chemist, which is a perfect fit for the M&D Green Group, has a well established reputation of providing high quality, professional healthcare to the patients and communities where their pharmacies are located and we will continue this good work and build upon the range of services offered and extend access to more patients. The Gordons Chemist brand will continue its strong presence in Northern Ireland.”

Grant Bett, corporate relationship director at HSBC, which is M&D Green’s banking partner, said: “I am delighted HSBC have further backed Martin Green and the M&D Green Group with this latest major acquisition with additional funding support as well refinancing our existing debt facilities for a longer period, demonstrating our longer term support to Martin.

“It has been a pleasure working with Martin and the team at M&D Green on this transformational acquisition and for many years having now supported 24 acquisitions in their ambitious growth journey.

“The addition of a further nine community pharmacies demonstrates its ambition to provide high quality services to communities across Scotland, where HSBC are delighted to support, and demonstrates our commitment to the Pharmacy sector as we continue our own growth journey.”

Mr Green continued: “We look forward to introducing the 100 staff at Gordons into the 650 strong workforce at M&D Green and are certain our new colleagues will enjoy working in the M&D Green Group and will thrive in our learning culture as we aspire to further develop a highly skilled workforce to deliver the future of Community Pharmacy as we continue to develop our NHS and private, clinical services including additional services like blood testing, travel clinics and hearing care. 

“We will also continue to introduce technology to make ordering and accessing prescribed medication easier and more convenient for patients.”

Alan O’Riordan, corporate finance partner at Azets, said: “It has been a privilege to work alongside Martin and Julie and assist on the Group refinance as well as the acquisition of Gordons in Scotland.

“I am very proud of what the Azets team have achieved in delivering on this landmark transaction. Martin has built an incredible business over the years and this acquisition is yet another milestone in what continues to be an exciting journey. I look forward to seeing what comes next.”

Kirk Dailly, head of corporate & commercial at Blackadders, added: “We were delighted to advise Martin, Julie  and the M&D Green management team on the group’s largest acquisition to date and to support it with the renewal and extension of its committed bank facilities. 

“It’s a privilege to work with M&D Green and we look forward to supporting the continued growth of this ambitious business.”