A Rexall drugstore in Ottawa, on March 2, 2016.Justin Tang/The Canadian Press
Toronto-based private equity firm Birch Hill Equity Partners has completed its acquisition of the Rexall Pharmacy Group.
Birch Hill acquired the drugstore chain from previous owner McKesson Corp. in a transaction that closed Dec. 30, according to documents filed with the federal Competition Tribunal.
Financial terms of the deal, which was first announced in September, have not been disclosed.
Rexall operates 385 pharmacies across Canada and employs about 8,000 people.
As part of the deal, Birch Hill also acquires Texas-based McKesson’s Well.ca business, which offers more than 40,000 health and wellness products online.
McKesson says divesting Rexall and Well.ca will allow it to focus on expanding its oncology and biopharma growth platforms.