Earlier this week, over-the-counter health and wellness private brand manufacturer Perrigo announced the successful completion of its acquisition of Ranir Global Holdings LLC, a private brand supplier of oral self-care products, for $750 million in cash. This transaction advances Perrigo’s transformation to a consumer-focused, self-care company while enhancing its position in consumer self-care solutions.
Perrigo CEO and President Murray S. Kessler commented, “We are pleased to announce the successful completion of this bolt-on acquisition and look forward to welcoming the talented Ranir team to the Perrigo family. Our combined scale, global presence, innovation pipelines, and shared self-care strategies immediately accelerates growth and enhances our robust store brand portfolio. We look forward to providing customers and consumers with our expanded product offerings in this adjacent self-care category.”
Kessler continued, “As stated at our investor conference, the successful closing of the Ranir acquisition represented upside to our 2019 guidance. Based on today’s closing we are adjusting our 2019 adjusted diluted EPS guidance range up by 10 cents.”