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CLICKS GROUP LIMITED - Clicks to Acquire Pick n Pay Retail Pharmacy Business

Release Date: 10/05/2021 07:30
Code(s): CLS PIK     PDF:  
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Clicks to Acquire Pick n Pay Retail Pharmacy Business

Clicks Group Limited                           Pick n Pay Stores Limited
Incorporated in the Republic of South Africa   Incorporated in the Republic of South Africa
Registration number: 1996/000645/06            Registration number: 1968/008034/06
JSE share code: CLS                            JSE share code: PIK
ISIN: ZAE000134854                             ISIN: ZAE000005443
CUSIP: 18682W205                               ("Pick n Pay")
LEI: 378900E967958A677472
(“Clicks Group”)


Clicks plans to acquire the retail pharmacy business of Pick n Pay, including 25 in-store
pharmacies which will be rebranded to Clicks.

Clicks is the largest retail pharmacy network in the country and the acquisition will
increase its national presence to 632 pharmacies.

In terms of the proposed transaction, Clicks will acquire the pharmacy licences and
ethical drug stock, while all staff employed in the pharmacies will transfer from Pick n
Pay to Clicks.

Vikesh Ramsunder, chief executive officer of Clicks Group, said: “The acquisition of the
pharmacy chain from Pick n Pay accelerates our strategy of extending the convenience
and accessibility of the Clicks pharmacy network.

“Currently 50% of the country’s population live within 6 kilometres of a Clicks pharmacy
and we aim to improve this over time as we get closer to customers.
“We welcome the opportunity to bring our experience in retail pharmacy to customers of
Pick n Pay.”

Pick n Pay chief operating officer Adrian Naude said: “Pick n Pay has only held a
relatively small number of pharmacies over the years. We have recently set out our key
strategic objectives in terms of future growth, and these do not include the development
of a large pharmacy division. Our main objectives in terms of transferring our pharmacy
business have been to ensure that our customers have a seamless transition and
maintain the quality of service they have been used to with Pick n Pay, and that our
pharmacy staff are looked after. We are pleased to have reached an agreement with
Clicks which meets both of these objectives.”

The proposed transaction is subject to approval by competition and regulatory

The transaction is non-categorised in terms of the JSE Listings Requirements for Clicks
Group and Pick n Pay and this announcement is therefore made on a voluntary basis.
The transaction will not have a material impact on the earnings and financial position of
either company.

Cape Town
10 May 2021

Investec Bank Limited

Date: 10-05-2021 07:30:00
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