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.