Neighbourly agrees to acquire seven pharmacies in Western Canada

Neighbourly Pharmacy (TSX:NBLY:CA) on Tuesday agrees to acquire seven pharmacies from a single seller, five of them located in Saskatchewan and two in British Columbia, for an undisclosed sum.
However the company noted that, the total purchase price and its valuation are consistent with the company's historical acquisition multiples.
The company said, the addition of seven pharmacies will generate total annualized Adjusted EBITDA of ~$4.4M.
The transaction is expected to be funded from cash on hand and drawings on the Company's credit facility and is expected to close by the end of June 2023.
Pursuant to the closure of the deal, Neighbourly's network will comprise a total of 294 locations across Canada.
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