Birch Hill Equity Partners, a private equity firm in Toronto, has completed the acquisition of Rexall Pharmacy Group.
Birch Hill bought the drugstore chain from former owner McKesson Corp. in a transaction that was sealed recently, according to documents filed with the federal Competition Tribunal.
Financial terms of the acquisition, which was first disclosed in September 2024, have not been disclosed.
Rexall operates 385 pharmacies across Canada and has about 8,000 staff.
Birch Hill also acquires Texas-based McKesson’s Well.ca business, which provides over 40,000 health and wellness products online, as part of the deal.
While talking about both acquisitions, McKesson said divesting Rexall and Well.ca would allow it to focus on expanding its oncology and biopharma growth platforms.
