Duke Street has sold Kent Pharma, a UK-based distributor of specialty and generic pharmaceuticals, to Phoenix Labs, an Irish and European pharmaceutical company. Kent Pharma, headquartered in Ashford, UK, is a key partner to the NHS and one of the top suppliers of injectables to UK hospitals. Duke Street acquired the business in 2019 as a carve-out from DCC Healthcare and has since supported its growth through product launches, acquisitions, and expansion into Ireland.

Under Duke Street’s ownership, Kent Pharma sold its non-core antibiotics manufacturing unit, Athlone Labs, to Gaelic Laboratories in late 2025. The sale to Phoenix Labs will expand the buyer’s UK operations and create synergies across its product portfolio and geographies. Duke Street has deployed more than £800 million into healthcare since its first investment in the sector in 1997 and typically invests in companies with enterprise values between £50 million and £350 million.

Financial terms of the transaction were not disclosed. Jefferies acted as financial adviser, DLA Piper provided legal advice, and BDO, IQVIA, and PwC supported due diligence efforts.