Hygie31 Buys Its Irish Gateway to the English-Speaking World

The French pharmacy group is taking a majority stake in Dublin-based Navi Group, in a deal believed to value the Irish firm above €50M.

22 Sep 2026

Hygie31, a French pharmacy group, has agreed to acquire a majority stake in Navi Group, a Dublin-based pharmacy wholesale and services business, in a deal believed to value the Irish company at more than €50 million. Navi declined to disclose the size of the stake or the precise value of the deal.

Founded in 2009 by John Carroll, who serves as its chief executive, Navi employs 90 people and brings together more than 600 pharmacies, nearly 30 percent of the Irish market. Its platforms, which handle dispensing, payment collection, purchasing management, data analysis and performance optimization, generate €700 million in business volume.

Ireland is a new market for Hygie31, which already operates in France, Spain and Italy. Latour Capital acquired the company from Rothschild and Co. in 2022, with Bpifrance as a minority shareholder. Combined, the two groups affiliate more than 3,542 pharmacies across Europe, with over €6 billion in business volume, according to Mansfield Advisors, the buy-side adviser. Accuracy provided financial due diligence support to Hygie31 on the transaction.

Executives on both sides cast the deal as a pooling of strengths. "This partnership with Hygie31 is about taking the capabilities Navi has built in Ireland and combining them with significant international expertise, investment and best practice to create even greater value for our pharmacy customers," Mr. Carroll said. Hygie31's chairman, Hervé Jouves, said, "Ireland represents a highly dynamic market and a natural gateway into the English-speaking world."

Yet Navi's history suggests the transaction may draw attention from regulators. Four years ago, Ireland's Competition and Consumer Protection Commission blocked Dublin-listed Uniphar from taking over Navi on competition grounds. Neither party has confirmed whether the current deal will face a similar review. How that question is settled will shape how quickly Hygie31 can put its first Irish foothold to work.