Chemist Warehouse Group

Is Chemist Warehouse Group owned by another company?
Following the February 2025 merger, Chemist Warehouse Group operates as part of Sigma Healthcare Limited, a publicly traded company on the ASX under the ticker SIG. CWG shareholders hold 85.75% of the combined entity, with the three founders (Mario Verrocchi, Jack Gance, and Sam Gance) collectively holding approximately 49%. The merger was structured as a reverse takeover, with Chemist Warehouse Group effectively becoming the controlling entity.

Is Chemist Warehouse Group publicly traded?
Yes, following the merger with Sigma Healthcare completed on 13 February 2025, the combined entity trades on the ASX under the ticker symbol SIG (Sigma Healthcare Limited). Prior to the merger, Chemist Warehouse Group was a private company. The reverse merger provided public market access while allowing the founders to maintain significant ownership and control.

When was Chemist Warehouse founded?
The first Chemist Warehouse store opened in 2000 in Melbourne, founded by Jack Gance, Sam Gance, and Mario Verrocchi. However, the pharmacy origins trace to 1972 when brothers Jack and Sam Gance purchased their first pharmacy in Reservoir, Melbourne. Mario Verrocchi joined the business in 1980, and in 1997 they established the MyChemist brand before launching the Chemist Warehouse discount format in 2000.

Who founded Chemist Warehouse?
Chemist Warehouse was founded by Jack Gance, Sam Gance, and Mario Verrocchi. Jack Gance is a qualified pharmacist who opened his first pharmacy with his brother Sam in 1972. Mario Verrocchi joined as a trainee in 1980 and became a partner in 1982. The three founders established MyChemist in 1997 and the Chemist Warehouse brand in 2000. Jack Gance also created the brands Le Specs, Le Tan, and Colours of Australis.

What is Chemist Warehouse Group's annual revenue?
For FY2025 (ended 30 June 2025), the merged Sigma Healthcare and Chemist Warehouse Group reported statutory revenue of A$6.0 billion, up 82.2% year over year. On a pro forma basis (as if merged from 1 July 2024), revenue was A$9.6 billion with EBIT of A$903.4 million. The Chemist Warehouse retail network alone achieved total sales to customers of A$10.3 billion, up 14% year over year. Normalised NPAT was A$579.1 million, up 40.1%.

How many Chemist Warehouse stores are there?
As of 30 June 2025, there were 588 Chemist Warehouse franchise stores across Australia, plus 77+ international stores in New Zealand, Ireland, and the UAE. The broader franchise network includes an additional 293 stores under the Amcal and Discount Drug Stores brands, totaling 881 franchise stores across Australia. The company opened 35 new CW stores in FY2025 and plans to continue expansion at a consistent cadence.

What is the Sigma Healthcare merger?
In December 2023, Chemist Warehouse Group announced its intention to merge with Sigma Healthcare through a reverse takeover. The merger was completed on 13 February 2025, creating Australia's largest retail pharmacy franchisor and full line pharmaceutical wholesaler. CWG shareholders hold 85.75% of the combined entity, with a A$700 million cash component. The merger combined CWG's retail expertise with Sigma's wholesale and distribution infrastructure. The synergy target has been upgraded to A$100 million per annum by year four post merger.

What brands does Chemist Warehouse Group own?
The group operates multiple pharmacy retail brands including Chemist Warehouse (588 stores), MyChemist (premium pharmacy format), Amcal (community pharmacy), and Discount Drug Stores (discount pharmacy). The group also owns the Wagner generics medicines brand, as well as Le Specs (eyewear), Le Tan (tanning and skincare), and Colours of Australis (cosmetics), all created by founder Jack Gance.

The origins of Chemist Warehouse trace to 1972, when brothers Jack and Sam Gance purchased their first pharmacy in Reservoir, Melbourne. Jack Gance, a qualified pharmacist who received his degree in 1967, opened the store with his brother Sam. In 1980, Mario Verrocchi, fresh out of university with a pharmacy degree, joined the business as a trainee under Sam Gance. In 1982, the three men opened their first pharmacy together in Melbourne's Northland shopping centre.

Within 15 years, they had 30 stores throughout Victoria, initially operating under the Amcal chain. In 1997, they left Amcal and established their own brand, MyChemist, opening the first MyChemist branded pharmacy. With over 30 aligned pharmacies in the group, MyChemist was adopted as their brand, and coordinated marketing activities began.

The central service function supporting the pharmacies continued to grow in scale and commerciality, developing particular strengths in marketing, pharmacy support services, and negotiating terms with third party suppliers. In 2000, Jack Gance, Sam Gance, and Mario Verrocchi established the Chemist Warehouse chain and opened the first Chemist Warehouse store in Melbourne, introducing a disruptive big box discount format that revolutionised pharmacy retailing in Australia. The concept was a fusion of the economic model of a supermarket and the professional pharmacy vision laid out by brands like Boots.

Throughout the 2000s and 2010s, Chemist Warehouse expanded rapidly across Australia, growing to over 500 stores nationwide. The company developed sophisticated supply chain capabilities, private label product ranges, and a franchise model that was formalised from 2016 onward. Jack Gance also created the brands Le Specs, Le Tan, and Colours of Australis, which became part of the group's product portfolio.

In June 2023, Chemist Warehouse signed a five year supply contract with Sigma Healthcare. As part of the deal, Chemist Warehouse would receive a 10.7% stake in Sigma when the contract started on 1 July 2024. In December 2023, Chemist Warehouse Group announced its intention to merge with Sigma through a reverse takeover, which would make Chemist Warehouse a publicly listed company on the ASX. The deal consisted of both cash and stock offers, with a A$700 million cash component.

On 13 February 2025, Sigma Healthcare completed its merger with Chemist Warehouse Group, with new shares trading on the ASX under the ticker SIG. CWG shareholders hold 85.75% of the combined entity, with the three founders collectively holding approximately 49%. The merger created Australia's largest retail pharmacy franchisor and full line pharmaceutical wholesaler.

In November 2024, the group launched its Wagner generics medicines range, accelerating its own and exclusive brand strategy. By FY2025, the company had 269 own brand and exclusive label products in the market. The group continued its international expansion, with retail network sales exceeding A$1.0 billion in New Zealand and 16 international stores added during the year.

In FY2026 Q1, the strong momentum continued, with total Chemist Warehouse network sales up 17.9% and like for like sales up 14.7%.

Chemist Warehouse Group has implemented sustainability initiatives focused on environmental responsibility, healthcare access, and ethical business practices.

Healthcare accessibility is a core priority for Chemist Warehouse, with the company's discount pharmacy model designed to make healthcare products and prescription medicines more affordable for Australian consumers. The company's value proposition of lower prices on health and wellness products has improved access to medications and health products for millions of customers.

The merged group has invested in supply chain efficiency, with logistics costs per unit reduced by 11% in FY2025 as volume distributed exceeded 530 million units. The distribution network of 14 centres across Australia enables efficient nationwide coverage with over 99% of orders delivered in full, reducing waste and improving supply chain sustainability.

The company has been recognised for customer satisfaction, winning the Roy Morgan Pharmacy of the Year award for the fourth time in 2024, based on customer satisfaction ratings across all 12 months of the year. This reflects the brand's commitment to affordability, accessibility, and service excellence.

Note: Chemist Warehouse Group does not hold independently verifiable sustainability certifications such as B Corp, CDP disclosure, or SBTi targets as of the date of this article. The company's sustainability claims are based on its own reporting and corporate initiatives.

Chemist Warehouse has received recognition for pharmacy excellence, retail innovation, and customer satisfaction.

• Roy Morgan Pharmacy of the Year 2024: Won for the fourth time, based on customer satisfaction ratings across all 12 months of the year, reflecting commitment to affordability, accessibility, and service excellence
• Fonto Top 10 Fastest Growing Consumer Brands: Recognised by research and data company Fonto as one of the top 10 fastest growing consumer brands in Australia for 2025
• ASX Top 20 Company: Following the merger, the merged entity's market capitalization of approximately A$35 billion placed it in the top 20 companies on the ASX
• 20+ Year Growth Profile: Over two decades of consistent store network growth, with an average of approximately 35 new stores per year over the last decade
• International Expansion Success: Retail network sales exceeding A$1.0 billion in New Zealand, demonstrating the transportability and scalability of the Chemist Warehouse model in international markets

Chemist Warehouse Group operates under regulatory scrutiny related to pharmacy ownership laws, healthcare regulations, and competitive practices in the Australian pharmacy industry.

Pharmacy ownership regulations: Australian pharmacy ownership laws restrict who can own pharmacies, requiring qualified pharmacists to maintain ownership. Chemist Warehouse's franchise model and corporate structure have faced scrutiny regarding compliance with these regulations. The company formalised its franchise arrangements from 2016 onward to address regulatory requirements, but the structure continues to draw attention from regulators and competitors.

Discount pricing and market dominance: Chemist Warehouse's dominant position in Australian pharmacy retail has drawn scrutiny regarding its impact on traditional independent pharmacies. The company's discount pricing model and large scale operations have been criticised by some pharmacy industry groups for potentially undermining smaller, independent pharmacy businesses.

Regulatory compliance in healthcare: As a pharmacy retailer, Chemist Warehouse must comply with extensive healthcare regulations including pharmaceutical dispensing rules, pharmacist registration requirements, and medication safety standards. The company must navigate complex regulatory requirements across federal and state jurisdictions in Australia and in its international markets.

Merger scrutiny: The December 2023 announcement of the reverse merger with Sigma Healthcare attracted regulatory attention, including review by the Australian Competition and Consumer Commission (ACCC). The merger created Australia's largest pharmacy company, raising questions about market concentration and competitive dynamics in the pharmaceutical wholesale and retail sectors.

International expansion risks: The company's expansion into New Zealand, Ireland, the UAE, and planned expansion into China and the UK exposes it to diverse regulatory environments and healthcare systems. Each market has distinct pharmacy regulations, product standards, and healthcare compliance requirements.

Own brand product quality: The launch of Wagner generics medicines and the expansion of own and exclusive label products (269 products in FY2025) draw scrutiny regarding product quality, manufacturing standards, and regulatory compliance for pharmaceutical products.