Getting The Juices Flowing

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The first part of Denise Phelan’s business story started in 1988 when she and her husband, Conor, moved to Carrigaline in Cork to open a pharmacy.

The first part of Denise Phelan’s business story started in 1988 when she and her husband, Conor, moved to Carrigaline in Cork to open a pharmacy.

The couple had met while working in a chemist’s shop in Waterford and were keen to go into business for themselves. Denise had recently qualified as a pharmaceutical technician, while Conor was a pharmacist.

The Carrigaline outlet did a strong trade and the Phelans opened a string of pharmacies across Munster. By 2003, they had a profitable chain of 12 pharmacies and planned to open several new shops over the following 18 months.

Then came an unexpected call from Uniphar. The Irish healthcare distributor was acquiring dozens of Irish pharmacies and wanted to add the Phelan Pharmacy Group to its growing portfolio. A deal was hammered out within months.

Getting the juices flowing

09 July 2006 By Ian Kehoe
The first part of Denise Phelan’s business story started in 1988 when she and her husband, Conor, moved to Carrigaline in Cork to open a pharmacy.

The first part of Denise Phelan’s business story started in 1988 when she and her husband, Conor, moved to Carrigaline in Cork to open a pharmacy.

The couple had met while working in a chemist’s shop in Waterford and were keen to go into business for themselves. Denise had recently qualified as a pharmaceutical technician, while Conor was a pharmacist.

The Carrigaline outlet did a strong trade and the Phelans opened a string of pharmacies across Munster. By 2003, they had a profitable chain of 12 pharmacies and planned to open several new shops over the following 18 months.

Then came an unexpected call from Uniphar. The Irish healthcare distributor was acquiring dozens of Irish pharmacies and wanted to add the Phelan Pharmacy Group to its growing portfolio. A deal was hammered out within months.

Uniphar paid the Phelans more than €22 million for ten of their pharmacies, and the couple retained ownership of their stores in Carrigaline and Glanmire in Cork.

They were millionaires many times over, but faced a dilemma.

Both were still in their 30s, and it seemed too early to sit back and live off their wealth.

‘‘It was a really hard decision to sell, because we weren’t ready to go,�? said Denise Phelan. ‘‘We had never thought of selling.

‘‘There was a big part of me thinking that we were giving up too early. But they were offering a lot of money and that thought was very short-lived.�?

A few months after the buyout, the second part of Phelan’s story started in a Waterford shop called Jump Juice. She had been juicing fruit and vegetables for her children for years in an effort to boost their vitamin intake, and liked what she saw.Phelan called the owners of Jump Juice, Charlie Scanlon and Claire Morrissey, and asked them if they wanted a new business partner. She explained her pharmacy background and said she thought there was a big opportunity for a nationwide chain of juice bars.

‘‘We talked about it and we decided that, with my business experience and finance and their hands-on experience, we could work well together,�? said Phelan.

A deal was struck whereby Phelan would buy into the Waterford shop and the new partnership would expand the chain. Two years later, there are nine Jump Juice bars in Ireland, including outlets in Cork, Waterford, Limerick, Kildare and Dublin. Phelan and her partners plan to open a further four shops by the end of this year.