In a statement, Perrigo Company PLC (NYSE: PRGO) announced that it had inked a deal, and the company is set to acquire Héra SAS. The acquisition will make Perrigo the world leader in the consumer self-care segment. The deal is valued at approximately $2.1 billion in cash. HRA has three categories of self-care brands namely, in blister care Compeed, women’s health ellaOne, and scar care Mederma, under its umbrella, making it one of the fastest-growing over-the-counter companies in the world. The acquisition will enhance Perrigo’s global presence as the company will scale up its presence in the European markets.
Perrigo aims to deliver top tier net sales growth
With the acquisition, Perrigo will focus on delivering top-tier net sales growth and double-digit EPS growth. In an interview, Murray S. Kessler, CEO, and President, Perrigo, said:
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“Over the last two and one-half years, we have been on a journey to transform Perrigo into a focused and high-performing consumer self-care company, all while delivering a successful track record of well executed acquisitions and divestitures. The acquisition of HRA would be the crowning achievement in that transformation. With the addition of HRA and its talented leadership team, Perrigo would be a consumer self-care global leader that is poised to deliver top tier net sales growth and double-digit EPS growth in the near-term while concurrently expanding margins.”
The acquisition will strengthen Perrigo’s OTC self-care portfolio
The acquisition will strengthen Perrigo’s OTC self-care portfolio. The company will have Compeed, ellaOne and Mederma brands as part of its portfolio. It is learned that close to 15% of HRA’s net sales come from selling prescribed products to treat a rare disease. In addition, one of HRA emergency contraception products has received OTC status in 59 countries globally. The company recently also had its once-daily OTC oral contraceptive approved in the U.K.
Perrigo has inked a deal to acquire HRA for nearly $2.1 billion
Perrigo has signed an agreement to take over HRA for approximately $2.1 billion. If all works well between Perrigo and the selling shareholders, the deal will come through. The final transaction will be carried out in the first half of 2022 if the terms and conditions are met and necessary approvals are met.
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