Raimes Clark & Company, which trades as Lindsay & Gilmour, now has 28 branches after the acquisition of two chemists in Edinburgh. The move adds more than 20 staff, taking the firm’s headcount to about 260.
The purchase of John A Smith and Craigmillar Pharmacy has been supported by a £3 million finance package from banking giant HSBC and coincides with the pharmacy operator’s 200th anniversary.
Nigel Cumming, chairman of Raimes Clark, said: “As ambitious business owners we are always looking for the next investment opportunity to support our growth plans.
“HSBC has been instrumental in helping us achieve this latest round of acquisitions and it continues to support our evolving business needs. We look forward to furthering the relationship we’ve had with the team since 2014.”
The finance was allocated from HSBC’s national £10 billion small and medium-sized enterprise (SME) fund. Of that total, £450 million is designated to support Scottish businesses and “rebalance the economy outside of London”.
Kenny White, relationship director at HSBC, said: “Raimes Clark is a firmly established player in the Scottish pharmacy sector and we’re pleased to support its ongoing growth and acquisition strategy. The business has delivered a quality service across Scotland for generations and these latest acquisitions will help it reach even more customers.”
Family-run Raimes Clark can trace its roots back to 1816, ten years before the first Lindsay & Gilmour pharmacy starting trading from its current site in Edinburgh’s Elm Row.