Pharmacy O'Riada, the Dublin-based pharmacy group, has announced the purchase of four pharmacies from the Grimes Pharmacy & Optician chain.

The group would not disclose the price paid for the pharmacies, though industry sources said it would be in excess of £2 million (#2.54 million). Mr Fergus Hoban (29), the managing director and main shareholder of the Pharmacy O'Riada group, said the acquisition was part of the first phase of the company's expansion programme.