Beauty Packaging Staff08.11.20
Perrigo Company plc, a global provider of self-care products, is acquiring three Eastern European OTC skincare and hair loss treatment brands (Emolium, Iwostin and Loxon) from Sanofi. Trailing twelve months net sales ending June 30, 2020 for these products were approximately $23 million.
"We continue to prioritize opportunities that build on our self-care transformation and seek bolt-on assets that support our five growth pillars. We are pleased to add these margin enhancing assets to strengthen our international self-care portfolio and deliver value for our shareholders,” commented Perrigo president and CEO Murray S. Kessler.
Perrigo executive vice president and president of CSCI Svend Andersen added, "The addition of these market-leading OTC brands serves as another step for Perrigo's CSCI growth plans, expands our already robust skincare franchise and adds scale to our Eastern Europe business."
The transaction is expected to close early in the fourth quarter, subject to customary closing conditions. Other terms of the transaction were not disclosed.
"We continue to prioritize opportunities that build on our self-care transformation and seek bolt-on assets that support our five growth pillars. We are pleased to add these margin enhancing assets to strengthen our international self-care portfolio and deliver value for our shareholders,” commented Perrigo president and CEO Murray S. Kessler.
Perrigo executive vice president and president of CSCI Svend Andersen added, "The addition of these market-leading OTC brands serves as another step for Perrigo's CSCI growth plans, expands our already robust skincare franchise and adds scale to our Eastern Europe business."
The transaction is expected to close early in the fourth quarter, subject to customary closing conditions. Other terms of the transaction were not disclosed.
