Neighbourly acquires Rubicon Pharmacies

Torys acted as counsel to Rubicon Pharmacies, a portfolio company of TorQuest Partners Inc., with a team that included Guy Berman, Danielle Traub, Justin Crawford, Nick Germanakos, Erica Bird and Jessica Reid (corporate/M&A), Teresa Reguly (food and drug regulatory), Omar Wakil and Ian Li (competition), Tom Stevenson (employment), Andy Gibbons (real estate), Jerald Wortsman and Benjamin Mann (tax).

On March 10, 2022, Neighbourly Pharmacy Inc. (“Neighbourly”) announced that it entered into a definitive agreement to acquire all of the issued and outstanding shares in the capital of the entity that owns and operates, directly or indirectly through its subsidiaries, the network of retail pharmacies known as Rubicon Pharmacies (“Rubicon”), for a total cash consideration of C$435 million, subject to customary post-closing adjustments.

Closing of the transaction was announced on June 27, 2022.

Further information can be found on Canada Newswire’s website.

Rubicon Pharmacies is Western Canada’s largest owner and operator of independent pharmacies with a network of 100 locations, including more than 60 locations in Saskatchewan.

Neighbourly is Canada’s largest and fastest growing network of community pharmacies. United by their patient first focus and their role as essential and trusted healthcare hubs within their communities, Neighbourly’s pharmacies strive to provide accessible healthcare with a personal touch.