Belgium's Colruyt Group has increased its stake in Newpharma from 26% to 61% by acquiring the shares of the online pharmacy specialist's remaining minority shareholders.
The retail group and Korys, the investment company of the Colruyt family, now own 100% of the shares of Newpharma.
With this investment, the Colruyt Group aims to appeal to consumers with a proactive approach to health and develop its expertise in online retail.
Newpharma is a Belgian online pharmacy, based in Liège and active in six countries.
Its webshop offers a range of approximately 39,000 parapharmaceutical products and over-the-counter medicines at affordable prices.
Newpharma has achieved strong growth in a competitive European market, partly due to increased sales to new and existing customers, and an influx of new customers in foreign markets, including France, the Netherlands, and Switzerland.
The investment aligns with Colruyt Group's ambition to respond to consumers' needs and continuous health investments.
Initiatives such as SmartWithFood, the Colruyt Group Academy workshops, the expansion of the para-pharmaceutical range in the Colruyt stores, and the recent acquisition of the fitness chain JIMS are part of this commitment.
Following on from the investment, Colruyt Group continues to invest and innovate in its online store concepts and digital applications, as well as in the quality of its products and services.
The group aims to cater to the evolving needs of consumers with appropriate store concepts, including online solutions focusing on a multi-channel approach.
In the context of a multi-channel approach for consumer convenience, it has been possible to collect Newpharma orders from the Collishop pick-up point network since the beginning of 2021, the retailer added.
The increase of the stake in Newpharma is a further step in expanding Colruyt Group's leadership in e-commerce.
Newpharma has already taken various steps to support further sustainable growth and international development.
For instance, the company has already strengthened its organisational structure. In the second half of 2020, it commenced the construction of a new distribution centre in Liège, with the support of Colruyt Group.
This new distribution centre will become operational in the coming months.
© 2021 European Supermarket Magazine. Article by Conor Farrelly. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.