The three branches acquired in Guernsey are located at St Sampson’s, L’Aumone, and Longfrie.
Saving some of the branches from closure, CI Coop has acquired sites in The Parade, Red Houses, Les Quennevais, and Gorey Village, Jersey.
Pictured: Mark Cox, CEO of the CI Coop, described the purchase as “a unique opportunity”.
As part of the move, CI Coop will be offering roles to all existing Lloyds employees.
The two companies said they were working together to finalise the sale and transition, which is anticipated to be completed at the end of this month.
This is subject to approval by the competition and regulatory authorities in both Guernsey and Jersey.
Mark Cox, CEO of the CI Coop, said: “We look forward to welcoming new and existing members and customers to our expanded pharmacy network and are thrilled to welcome their team into the Channel Islands Coop family.”
Sara Kynicos, Head of Care at CI Coop, added: “This acquisition presents an excellent opportunity for us, underscoring our commitment to the growth and development of our pharmacy business, as well as our continued support for the essential pharmacy sector within the local community.”
The GCRA is consulting on the proposed deal until the end of October.