Apotheka acquires two pharmacy outlets from Panpharmacy

February 2024 — In a strategic move that signifies the ongoing consolidation and growth within the Latvian pharmaceutical retail sector, Panpharmacy, the parent company of the leading online pharmacy InternetAptieka.lv, has successfully completed the sale of two of its brick-and-mortar pharmacies to Apotheka. These pharmacies, both situated in the capital city of Riga, will continue to serve customers under the Apotheka brand, marking a seamless transition in ownership and operations.

InternetAptieka.lv is recognized as the premier online pharmacy platform in Latvia, offering a wide range of pharmaceutical products and health-related services to its customers. This divestiture allows Panpharmacy to potentially refocus resources and further strengthen its leading position in the digital pharmacy space.

Apotheka is a prominent name in the Latvian pharmaceutical retail landscape. The company currently operates more than 120 pharmacies across Latvia, with a significant presence in Riga as well as major cities such as Liepaja, Ventspils, Jelgava, Daugavpils and Rezekne. Apotheka is part of Magnum Group, a leading group in pharmaceutical wholesaling and retailing in the Baltic States.

Our role in the transaction

Oaklins’ team in Latvia acted as the exclusive M&A advisor to Panpharmacy and its shareholders.