)
TERRY White and Chemmart will covert the 500-store network of the merged group to the new brand TerryWhite Chemmart.
The first rebranded store has opened at Glenferrie Road, Hawthorn; it is expected to take until the end of 2017 to convert the entire chain.
Terry White CEO, Anthony White, says, "Both brands have a strong heritage and high levels of consumer awareness, which is why the new retail brand retains and leverages these valuable characteristics."
"The new brand, TerryWhite Chemmart, is underpinned by the values that customers of the pharmacies within the merged group have come to expect including value for money, trusted health advice and the delivery of frontline health services."
The merger, which was announced in August, will create a group with a combined retail turnover of around $2 billion.
EBOS Group, a medical and pet care firm headquartered in New Zealand, sold the business assets of Chemmart to Terry White in exchange for equity, and it will invest $18 million in cash for a 50 per cent equity stake in the merged entity.
The Sydney-based EBOS Group is listed on both the NZX and ASX (EBO). It has stakes in more than a dozen health-industry brands, including a 25 per cent share of Brisbane-based chemist chain Good Price Pharmacy.
Terry White Group revealed a 107 per cent surge in earnings before interest, tax, depreciation and amortisation to $7.71 million in FY16.
The next step for the merged group is an IPO - White has admitted it is being considered, but for now he is concentrating on the integration of the businesses.
Enjoyed this article?
Don't miss out on the knowledge and insights to be gained from our daily news and features.
Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.
Support independent journalism and stay informed with stories that matter to you.
)
)
)
)
)
