Richards Group acquired PharmaSystems Inc.’s CPG division
Richards Group, through its subsidiary Healthmark Services Ltd., acquired the assets of PharmaSystems Inc.’s consumer packaged goods division, a leading provider of essential over-the-counter health and wellness products to major pharmacies and retailers across Canada.
Richards Group
Richards Group (TSX: RIC) is a Canadian distributor of healthcare supplies and packaging products, headquartered in Mississauga, Ontario. Founded in 1912, the company has grown from a packaging specialist into one of Canada’s leading healthcare distribution businesses. Today it holds the position of Canada’s largest distributor in pharmacy, aesthetic, and vision care. Its Healthcare segment operates through several subsidiaries, including Healthmark Services Ltd., its pharmacy-focused acquisition platform. Richards has pursued a consistent buy-and-build strategy in Canadian healthcare, steadily expanding its portfolio through targeted acquisitions across its core verticals.
PharmaSystems CPG division
PharmaSystems Inc. is a privately owned Canadian company founded in 1977, based in Markham, Ontario. Its consumer packaged goods division supplies essential over-the-counter health and wellness products to major pharmacies and retailers across Canada. The product portfolio spans medication compliance aids, pill organisers, oral syringes, measuring devices, and everyday consumer health items. The CPG division brings established retail shelf presence and long-standing pharmacy distribution relationships to the Healthmark platform.
Clairfield’s role
Clairfield’s Canadian partners, NewPoint Capital Partners Inc., acted as exclusive advisor to Richards Group on this transaction, supporting valuation, negotiation, and closing.
This is Clairfield’s 7th closed deal with Richards Group, reflecting an advisory relationship that stretches back to 2020. The team’s history with the Glynn family goes further still, to their support of Gerry Glynn’s acquisition of Richard’s Packaging Inc. in 2002.
In the words of John Glynn, CEO of Richards Group:
« We are pleased to welcome the PharmaSystems CPG business into Healthmark, the pharmacy-focused subsidiary of Richards Group. This acquisition will allow us to pursue growth in front-of-house offerings for pharmacies and the product set gives us a strong foothold relative to our otherwise back-of-house focused portfolio. Congratulations to the team on both sides that worked to bring our businesses together, »
— John Glynn, CEO of Richards Group
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