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TERRY White Group Investments (TWC) has acquired South Australian pharmaceutical retail network Chemplus in a deal advised by corporate law experts Carter Newell Lawyers.
The acquisition has created the largest retail pharmacy chain in South Australia.
Corporate partner Matt Couper (pictured), assisted by solicitor William Keating, led the Carter Newell team in governing the acquisition, which TWC chairman Terry White says was a significant step in the evolution of the industry.
"The combined group market has a market share in excess of 8 per cent and will provide increased business opportunities for all members at a time when scale matters," says White.
"We will be working very closely with the Chemplus network to ensure we identify the best of both worlds to further drive success in all of the pharmacies."
Matt Couper says his team are proud to have led their client to a successful outcome in this transaction which has paved the way for further company growth.
"We are very pleased to have had the opportunity to assist Terry White Chemists on this strategic acquisition which represents a significant step in the continued growth of the TWC network," says Couper.
Former chairman of Chemplus Scott McGregor has joined the TWC board of directors.
Former CEO Nick Tsamaidis will continue to hold senior management status within the company under the terms of the share purchase agreement.
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