@BretonPulley
My reading is that Pharmagest is an essential asset to la cooperative welcoop. When you look at their offering it matches those of pharmagest. Remember pharmacy's are members/owners of la cooperative. IMO it will never be sold.
@ReturnsJourney
It appears expensive but Recurring business, regular growth, tock solid balance sheet, good use of cash to expand offering and moat. nice runway in France and Italy and will likely apply the same game plan in Spain and Germany.