Toyota Tsusho Corporation ("Toyota Tsusho") announced today that in March 2022 its affiliate CFAO SAS ("CFAO") acquired close to 30% of the shares in Goodlife Pharmacies ("Goodlife"), East Africa's leading retail pharmacy chain,. This acquisition marks CFAO and Toyota Tsusho's first entry into the retail pharmacy industry in Africa.

Goodlife (established 2014) is the leading pharmacy chain in East Africa, and provides quality drugs to some 1.7 million patients through 100 locations in Kenya and Uganda. It aims to reach 250 stores and and 8.5 million patients served by 2025, with plans to launch a business format and brand designed specifically for low-income populations.

Through its Healthcare division, CFAO operates wholesale distribution subsidiaries in 23 countries with a portfolio of over 24,000 and 7,000 client pharmacies and hospitals. It also produces licensed pharmaceuticals in Morocco and Algeria.

The Goodlife transaction is a further step into the rollout of Toyota Tsusho and CFAO's strategy of diversification and integration along the pharmaceutical value chain By combining Goodlife's retail pharmacy network and brand and CFAO's existing wholesaling capabilities and product portfolio, Toyota Tsusho will contribute to improving access to high-quality pharmaceuticals in East Africa.

In line with its "WITH AFRICA FOR AFRICA" philosophy, Toyota Tsusho seeks to contribute to the improvement of healthcare outcomes in the African continent.

Please see the link below for the press release from CFAO (external link)
URL: https://www.cfaogroup.com/en/cfao-healthcare-acquires-30-stake-in-goodlife-pharmacies-from-leapfrog-investments-as-part-of-strategic-partnership/