DUBLIN, April 2, 2020 /PRNewswire/ -- Perrigo
Company plc (NYSE; TASE: PRGO) announced today that it has
completed the acquisition of the oral self-care assets of High
Ridge Brands. The acquisition underscores the numerous bolt-on
opportunities that are advancing Perrigo's commitment to transform
to a global consumer-focused self-care company and build
shareholder value.
"This tuck-in acquisition highlights the attractive growth
opportunities available in this space," said Rich Sorota, Executive Vice President and
President, Consumer Self-Care America's. "This acquisition
provides us with well-established oral self-care brands that
further enables us to better meet the needs of our retail partners
by providing their consumers a wider array of high-quality,
affordable and innovative new products."
The closing of this acquisition builds upon Perrigo's
July 2019 acquisition of Ranir, the
world's largest private label oral self-care company. Notably, the
deal includes leading children's oral care value brand,
Firefly®, in addition to the REACH® and Dr.
Fresh® brands. Additionally, a strong licensing
portfolio will enable creative solutions for our customers.
These assets position the Company as the #1 fastest growing value
brand player in the children's oral care category.
About Perrigo
Perrigo Company plc (NYSE; TASE: PRGO) is dedicated to making
lives better by bringing "Quality, Affordable Self-Care
Products™" that consumers trust everywhere they are
sold. The Company is a leading provider of over-the-counter
health and wellness solutions that enhance individual well-being by
empowering consumers to proactively prevent or treat conditions
that can be self-managed. Visit Perrigo online
at http://www.perrigo.com.
Forward-Looking Statements
Certain statements in this press release are "forward-looking
statements." These statements relate to future events or the
Company's future financial performance and involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, levels of activity, performance or achievements of
the Company or its industry to be materially different from those
expressed or implied by any forward-looking statements. In some
cases, forward-looking statements can be identified by terminology
such as "may," "will," "could," "would," "should," "expect,"
"forecast," "plan," "anticipate," "intend," "believe," "estimate,"
"predict," "potential" or the negative of those terms or other
comparable terminology. The Company has based these forward-looking
statements on its current expectations, assumptions, estimates and
projections. While the Company believes these expectations,
assumptions, estimates and projections are reasonable, such
forward-looking statements are only predictions and involve known
and unknown risks and uncertainties, many of which are beyond the
Company's control, including: the impact of the global coronavirus
pandemic, the timing, amount and cost of any share repurchases;
future impairment charges; the success of management transition;
customer acceptance of new products; competition from other
industry participants, some of whom have greater marketing
resources or larger market shares in certain product categories
than the Company does; pricing pressures from customers and
consumers; resolution of uncertain tax positions, including the
Company's appeal of the Notice of Assessment (the "NoA") issued by
the Irish tax authority and the draft and final Notices of Proposed
Assessment ("NOPAs") issued by the U.S. Internal Revenue Service
and the impact that an adverse result in any such proceedings would
have on operating results, cash flows, and liquidity; potential
third-party claims and litigation, including litigation relating to
the Company's restatement of previously-filed financial information
and litigation relating to uncertain tax positions, including the
NoA and the NOPAs; potential impacts of ongoing or future
government investigations and regulatory initiatives; potential
costs and reputational impact of product recalls or sales halts;
the impact of tax reform legislation and healthcare policy; general
economic conditions; fluctuations in currency exchange rates and
interest rates; the consummation of announced acquisitions or
dispositions and the success of such transactions, and the
Company's ability to realize the desired benefits thereof; and the
Company's ability to execute and achieve the desired benefits of
announced cost-reduction efforts and strategic and other
initiatives. An adverse result with respect to our appeal of
any material outstanding tax assessments or litigation, including
securities or drug pricing matters, could ultimately require the
use of corporate assets to pay such assessments, damages from
third-party claims, and related interest and/or penalties, and any
such use of corporate assets would limit the assets available for
other corporate purposes. Statements regarding the separation of
the RX business, including the expected benefits, anticipated
timing, form of any such separation and whether the separation
ultimately occurs, are all subject to various risks and
uncertainties, including future financial and operating results,
our ability to separate the business, the effect of existing
interdependencies with our manufacturing and shared service
operations, and the tax consequences of the planned separation to
the Company or its shareholders. Furthermore, the Company may incur
additional tax liabilities in respect of 2016 and prior years or be
found to have breached certain provisions of Irish company law in
connection with the Company's restatement of previously-filed
financial statements, which may result in additional expenses and
penalties. These and other important factors, including those
discussed under "Risk Factors" in the Company's Form 10-K for the
year ended December 31, 2019, as well as the Company's
subsequent filings with the United States Securities and Exchange
Commission, may cause actual results, performance or achievements
to differ materially from those expressed or implied by these
forward-looking statements. The forward-looking statements in this
press release are made only as of the date hereof, and unless
otherwise required by applicable securities laws, the Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Perrigo Company plc