Summary. On 11 December 2023, Sigma and Chemist Warehouse entered into a merger implementation agreement under which Sigma would acquire all the shares in Chemist Warehouse in exchange for Sigma shares and a $700 million cash consideration.

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The Chemist Warehouse chain was founded by Mario Verrocchi ('Verrocchi') who owns a significant number of the stores. Discount Chemist Outlet ('DCO') is another discount retail chemist chain which has been in direct competition with Chemist Warehouse for over eight years.

There's something curious about the proposed merger between Chemist Warehouse and Sigma Healthcare. Chemist Warehouse has about 550 retail pharmacies. Sigma has another 400.