Nationally Recognized Pharmacy Brokerage Company Aventine Group Successfully Arranges Acquisition of Private Community Pharmacy by Rite Aid
NEW YORK, Feb. 13, 2013 /PRNewswire/ — Aventine Group, a nationally recognized pharmacy brokerage and consulting firm, has announced the sale of a private community pharmacy to Rite Aid, the national U.S. retail pharmacy chain. Brokered for an undisclosed amount, the transaction further solidifies Aventine’s position as a leader in the pharmacy merger and acquisition market. This five times multiple dollar transaction was achieved by their expert team of consultants who came together and executed key sales initiatives by focusing on the customer experience.
Elan Katz, CEO of Aventine Group, credits the success of this undertaking to the exceptional knowledge and insights possessed by his team of professionals. “As a registered pharmacist myself, I’m extremely familiar with what it takes to run a successful pharmacy,” he says. “Our unique insights have proven to be beneficial and have allowed Aventine Group to be successful.”
In brokering the deal, Aventine’s consultants combined a stellar execution of strategic sales tactics with a focus on the customer to guarantee the success of this transaction. When it came to the calculation of an accurate selling price for the pharmacy, their decades of experience in the field of retail pharmacy served them well. Katz is proud of the fact that his experts understand the difficulties faced by the owners of pharmacies when attempting to sell their property.
In arriving at a fair selling price, Aventine’s experts combined such crucial financial indicators as reports of past and current performance with a careful consideration of comparable sales of similar businesses.
While proper appraisal of the private pharmacy’s value was critical, it was only part of the picture. Aventine also confirmed that the pharmacy’s owners possessed all state-required documents that would be required to see the transaction through to a successful and lawful conclusion. This entailed the aggregation and collation of their profit and loss statements, federal income tax returns, assets and loans along with lease-related documents, names of outside advisors and a copy of their franchise agreement.
In spite of its increasing success, Aventine Group is one pharmacy broker that refuses to rest on its laurels. In the interest of reaching a broader demographic, it recently launched a new and improved website with which it intends to simplify the process for buyers and sellers alike. At this site, interested parties hoping to buy or sell a pharmacy are able to access various listings and then, with the click of a mouse, receive a complete description of the property in question with videos and pictures included when available.
About Aventine Group
Aventine Group, a proven leader in the industry, is dedicated to improving the pharmacy brokerage process. In addition to its consulting engagements, Aventine’s accomplished group of professionals has experience in facilitating numerous acquisitions, mergers, start-ups, sales and primary purchases. Katz believes that having these registered pharmaceutical specialists on board gives Aventine an important tactical advantage.
If you have a pharmacy for sale or are in the market to buy one, Aventine Group can help. Contact them today to review your alternatives with a trained authority. For further information, consult the website at www.AventineRx.com.
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SOURCE Aventine Group