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The pharmaceutical group Dis-Chem has signed a conditional agreement to buy Baby City from its founding shareholders, the Aronoff family, for R430 million.
“Acquisition is a great cultural fit and has been our goal for many years. Brands and companies were created with similar philosophies, ensuring the alignment of the management team as we take steps to unlock the value we see in the Baby brand. City “. Ivan Saltzman, CEO of Dis-Chem, said in a statement.
Dis-Chem said that if the transaction is approved, it would include Dis-Chem brand clinics in Baby City stores, which offer prenatal and postnatal clinics services for infants and toddlers. It has also identified 30 other possible sites for new stores.
The pharmacy chain said Baby City “continued to perform well relative to the Covid-19 closure environment,” which demonstrated “both the resilient nature of the industry and the retailer’s inherent brand value.”
