Dr. Max strengthens its presence in Serbia by acquiring Žalfija pharmacies

Czech pharmacy chain Dr. Max, owned by the investment group Penta Investments, has acquired the Serbian pharmacy network Žalfija for an undisclosed sum in the range of several million euros. Žalfija operated 32 pharmacies across 17 cities in Serbia and reported a turnover of CZK 340 million (approx. €13.5 million) in 2024. With this acquisition, Dr. Max, already the second-largest pharmacy chain in Serbia with 400 branches, will expand its presence into 9 additional cities.

Dr. Max is the second-largest pharmacy network in Europe, operating over 3,000 branches in 17 European countries. Its success is built on a combination of e-commerce and brick-and-mortar stores. Penta aims to make Dr. Max the number one pharmacy chain in Europe and is also considering expansion beyond the continent, including into Asia.