Pharmacy Guild Leaders Buy Seven Priceline Pharmacies from Failed Infinity

Pharmacy Guild current president Trent Twomey and predecessor George Tambassis have bought seven Priceline pharmacies from the failed Infinity Pharmacy network.

Infinity was the largest franchisee of Wesfarmers’ Priceline Pharmacy, operating 91 stores nationwide before entering receivership late last year due to massive debts.

Breakup of a national network

Administrator Teneo is selling the chain, with Queensland-based operator Chempro Chemists buying most stores, while Twomey and Tambassis secured seven outlets after lacking funds to buy more.

Infinity operated nationwide under Wesfarmers’ Priceline banner until mounting liabilities forced it into insolvency. Teneo opted to break up the estate into regional parcels when a single whole-network buyer failed to materialize.

Consolidation across community pharmacy

The asset sale reveals how established operators are cherry-picking prime shopfronts while heavily geared roll-up models stumble. Twomey already controls eight sites through the Alive Pharmacy Network in North Queensland, while Tambassis operates pharmacy locations across Victoria.

Absorbing selected units into existing regional structures offers immediate retail footprint without taking on Infinity’s failed holding company debts. For Wesfarmers, keeping these dispensaries trading under the Priceline banner prevents store losses to rival banners like Chemist Warehouse.

Administration enters final stages

Infinity entered receivership late last year after severe cash flow problems crippled its ability to service debt across 91 locations. The Pharmacy Guild, which represents roughly 6,000 community pharmacies across Australia, continues to see its top leadership expand their private store networks through these distressed sales.

Teneo is completing final asset transfers across the remaining retail sites to wrap up the liquidation process.