Aurelius completes acquisition of McKesson UK

European asset management group Aurelius has closed the acquisition of McKesson UK, the parent company of several healthcare businesses including LloydsPharmacy, John Bell & Croyden and AAH Pharmaceuticals.

The £477 million deal, announced in November last year, marks the fifth completed transaction in less than a year under Aurelius co-investment structure.

McKesson UK comprises four divisions — retail, digital, homecare and wholesale — and generates sales of more than £5 billion a year.

Following the deal, McKesson UK will separate from its former US-based parent company, McKesson Corporation, acting as a “standalone” business.

Aurelius said it will seek to leverage McKesson UK’s established market positions to “maximise the opportunities available within each division.”

Aurelius was advised by Rothschild & Co. (Corporate Finance), PwC and FRP (Financial), Interpath (Tax), Mayer Brown and DLA (Legal), Cardano (Pensions), Kearney (IT) and Mansfield (Commercial).

Date published: April 8, 2022

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