Woolworths’ and Wesfarmers’ interest in buying pharmaceutical wholesaler Australian Pharmaceutical Industries should be a no-brainer. As two of the biggest retail operators in the country, they run successful retail businesses at both local and chain levels. They are masters of logistics and supply chains. They understand markets and consumers.

But API’s core business is the wholesale acquisition and distribution of prescription medicines. It also controls several pharmacy brands, including Priceline and Soul Pattinson Chemists. Although they don’t directly own the pharmacies sporting their livery, these brands are strong presences in suburbs and towns across Australia, partnering and supporting pharmacy proprietors who partner with them.