Carlyle Cardinal Ireland, the mid-market fund backed by The Carlyle Group and Cardinal Capital Group, has acquired Sam McCauley Chemists.
Founded in 1978, Sam McCauley Chemists has grown from one pharmacy in Wexford to become the third largest such group in Ireland. It has 30 stores and 600 staff, and generated sales of €75m in 2015.
Following the deal the company’s managing director Patrick McCormack will step down. He will be replaced by Tony McEntee, the former chief executive of Allcare Pharmacy Group.
Carlyle Cardinal’s Ian Daly and Jonathan Cosgrave will join the board of directors.
This is the eighth investment from the fund.