Local private equity firm, MFS Acquisition Limited, has successfully completed the acquisition of a 51 per cent stake in Best Value Discount Pharmacy (Best Value), a trusted provider of pharmaceutical products and related supplies based in St. Thomas.
This strategic move aligns with MFS Acquisition’s objective of identifying fast-growing companies in local and regional markets that demonstrate substantial potential for growth and expansion.
Best Value has quickly established itself as a leading retail distributor of prescription and over-the-counter medication, as well as health and beauty supplies, in the Morant Bay community. The company’s commitment to customer service delivery, combined with its extensive inventory, has garnered a loyal customer base and solid reputation for quality and affordability.
Despite being a young company, Best Value has achieved remarkable revenue generation and growth potential, with annual sales exceeding J$100 million over the past two financial years. The pharmacy has been operating for just over four years.
“We are thrilled to have acquired a majority stake in Best Value,” expressed Dino Hinds, director at MFS Acquisition. “We recognise the tremendous growth potential that the company possesses, and we are eager to lend our expertise and resources to support its continued success. With Best Value’s strong track record and our shared commitment to unlocking the business potential of our portfolio companies, we are confident that this partnership will yield significant benefits for both our organisations.”
Under the agreement, Best Value will continue its operations under its current management team, who will collaborate closely with the MFS Acquisition team to drive growth and capitalise on new opportunities. The partnership aims to enable Best Value to expand its reach, enhance its product offerings, and better serve its customers’ evolving needs.
Sasha-Lee Williams, CEO of Best Care, expressed enthusiasm about the partnership with MFS Acquisition, stating, “This partnership with MFS Acquisition represents an exciting new chapter for Best Care. We are proud of the progress we have made over the years and look forward to leveraging the resources and expertise of the MFS Team to help us expand our operations and better serve our customers.”
The acquisition of a majority stake by MFS Acquisition in Best Value Discount Pharmacy marks a significant milestone for both companies. The strategic alignment between the two entities is expected to pave the way for accelerated growth and enhanced customer service in the pharmaceutical retail sector, benefitting the Morant Bay community and surrounding areas.