New owners: Robert Beard and Philip Beard, South Brent Pharmacy; Stuart Brandon, Lloyds Bank; Kay Reynolds, the vendor; Paul Crocker, PKF Francis Clark and Rebecca Roberts, OTB Eveling
A Devon pharmacy has new owners.
After 20 years of running South Brent Pharmacy, owner Kay Reynolds is retiring and has sold the business to Beard Holdings Limited for an undisclosed sum.
Beard Holdings is a newly established business whose directors include Philip Beard, a qualified pharmacist, and his father, Robert Beard. Philip Beard becomes the pharmacy’s new proprietor and will take over day to day operations. All current staff have been retained.
The business, which is located on Church Street in South Brent on the southernmost tip of Dartmoor, serves a community of over 3,000 local residents.
Funding for the deal was provided by Stuart Brandon of Lloyds Bank who were recommended by the Corporate Finance team at PKF Francis Clark headed by partner Paul Crocker and director Dave Armstrong. Tax advice on the transaction was provided by Damian Lannon, tax partner at PKF Francis Clark.
Beard Holdings was also advised by lawyers Rebecca Roberts and James Eveling from OTB Eveling LLP.
Philip Beard stated “I am very grateful for the help and advice provided by PKF Francis Clark and OTB Eveling which has enabled me to own and run my own business.
“I look forward to delivering the same personal, quality service that the people of South Brent have enjoyed for the past 20 years”.