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Perrigo acquires Naturwohl along with dietary supplements brand Yokebe
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Dublin
July 22 , 2015
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Perrigo Company plc, an Over the Counter consumer goods and
pharmaceutical company, recently announced that it has entered into an
agreement to acquire Naturwohl Pharma GmbH with its leading German
dietary supplement brand, Yokebe. The brand is expected to generate
approximately €30 million in full year 2015 net sales. Yokebe, the
second largest dietary brand (by market share) in Germany, comes in a
shake/liquid form and is marketed within the 'meal replacement'
category.
Perrigo chairman, president and CEO Joseph C Papa
commented, "Our acquisition of the margin-enhancing Yokebe brand
demonstrates our continued execution on our 'Base Plus Plus Plus'
strategy by building on Omega Pharma's leading OTC product portfolio and
European commercial infrastructure. Coupled with our recent acquisition
of well-established European brands from GlaxoSmithKline, we continue
to leverage our robust balance sheet and strong global platform to
execute immediately accretive deals, such as this one, that will have a
multiplier effect on our growth. With Omega's pan-European distribution
network, strong brand-building capabilities and exceptional management
team, Perrigo is uniquely positioned to maximise the potential of these
brands to capture an even greater share of the $30 billion European OTC
market opportunity."
The acquisition is expected to be
immediately accretive to Perrigo's calendar 2015 adjusted earnings per
share and to exceed Perrigo's ROIC threshold in calendar year 2016. The
transaction has been unanimously approved by the boards of directors of
Perrigo and Naturwohl Pharma, and is expected to close in the third
quarter, pending German regulatory approval and the satisfaction of
customary closing conditions.
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