Chemist Warehouse merger with Sigma to create $8.8bn pharmacy group

Proposed merger with smaller competitor Sigma and stock market listing would unlock billions of dollars for founders of discount pharmacy chain Chemist Warehouse

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Chemist Warehouse will become a publicly traded company through a merger with Sigma Healthcare, creating a retailing giant and unlocking billions of dollars for the founders of the discount pharmacy chain.

Chemist Warehouse founders Mario Verrocchi and Jack Gance will hold executive positions in the new entity, with the value of their family interests rising to about $5bn, according to details released to the stock exchange on Monday.

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