In July Alliance Boots and Farmacevtfretagarna signed an agreement for a joint business venture in the Swedish pharmacy market with the first pharmacies opening this year under the Boots brand. This follows Boots plan to create an internally recognised brand creating a nationwide chain of owned individual pharmacies.
Lennart Axelsson, CEO of Farmacevtfretagarna commented that he was extremely pleased that we can now offer Swedish customers a pharmacy option that combines the professionalism and business skills of the individual pharmacist with the power of Europes leading pharmacy brand.
Ornella Barra, Chief Executive, Pharmaceutical Wholesale Division, Alliance Boots, responsible for Boots International activities, commented Alliance Boots aim is to launch Boots as a strong and trusted pharmacy brand in Sweden, whilst continually seeking ways to offer innovative products and services to patients and consumers. We anticipate that this partnership with Farmacevtforetagarna will enable us to achieve this ambition while also supporting independent entrepreneurship.
The partnership sees 51% owned by Alliance Boots and the remaining owned by Farmacevtfretagarna creating a company known as Boots Farmacevtfretagarna AB. All of the pharmacies in the chain will be fully owned by individual entrepreneurs. This partnership will also mean the formation of an organisation called Farmacevtfretagarna Ekonomisk Frening (Pharmacist Entrepreneurs Business Association) where all independent entrepreneurs will join the association and which combined will control the Farmacevtfretagarnas share of Boots Farmacevtfretagarna AB.
The partnership sees further progression for Alliance Boots to create an internal brand and maximise value developing new products from their branded healthcare products and building on their reputation not only for the brand but for their products and customer care.