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Brighton-based pharmacy chain expands following £1.3 million Santander funding
CT Dang Ltd, a rapidly expanding pharmacy group owned by three local siblings who are all qualified pharmacists, has purchased their second pharmacy in Brighton with the help of £1.3 million from Santander.
Brothers Colin, Tony and their sister Fiona Dang purchased their first pharmacy in Coombe Road, Brighton at the beginning of 2015 with the help of £385,000 from Santander. Now successfully established, the Dangs have purchased a second, larger pharmacy on the busy Western Road in Brighton. Both stores receive high levels of income from the NHS and benefit from a strong and loyal customer base.
The new pharmacy is forecast to increase turnover for the group now to around £2 million. To capitalise on the momentum the firm has in the local market, the Dang family plan to acquire additional outlets, with the ambition to each run their own pharmacy.
Colin Dang, Owner, CT Dang Ltd said:
The new outlet will greatly increase our market share in Brighton, a place we know very well. Our ambition is to own more pharmacies within the area and we are delighted that we have managed to purchase two within just two years. The expertise of Peter and the Santander team, particularly its knowledge of the pharmacy sector, has been invaluable and really helped us secure a solid foundation on which to grow.
Peter Warnke, Relationship Director, Santander said:
Colin, Tony and Fiona really impressed us with their ambition and business plan. As experienced pharmacists, they understand the issues affecting the industry and as such have made a real success of their fledgling retail chain. We look forward to working with them as they grow their business further.