Celesio, the German drugs distributor that owns the LloydsPharmacy chain, has bought Sainsbury’s pharmacy division for £125 million. The deal will see the supermarket chain’s 281 pharmacies rebranded as LloydsPharmacy and up to 2,500 Sainsbury’s staff members transferred to Celesio.

Sainsbury’s will collect annual rents on the stores, most of which are located in their supermarkets. It is thought that the changeover will be finalised by February 2016.