Chemist Warehouse: A look inside the deal of 2023

Just over 50 years ago, brothers Jack and Sam Gance opened their first pharmacy in Melbourne.

Within 10 years they were joined in the business by Mario Verrocchi and together they built a powerhouse retailer in Chemist Warehouse, becoming billionaires.

For the past decade, it has been a guessing game as to when the business might list on the Australian Stock Exchange. And last week, there was finally an answer.

The founders announced what could turn out to be the deal of the year, after agreeing to an unconventional merger with Sigma Healthcare to create an $8.8 billion giant.

This week on The Fin podcast, senior reporter Carrie LaFrenz and Chanticleer columnist James Thomson on the story behind the rise of Chemist Warehouse, how the deal with Sigma will work and whether the business’ low-profile founders will cope with being out in the open.

Explore the big issues in business, markets and politics with the journalists who know the inside story. New episodes of The Fin are published every Thursday.