Advent International completed the acquisition of Perrigo Mexico and Perrigo Brazil, the Latin American operations of global provider of over-the-counter self-care products Perrigo, for an undisclosed amount.
(Perrigo) Perrigo Company plc (NYSE: PRGO), a leading provider of Quality Affordable Self-Care Products, today announced that it has completed the previously announced sale of its Mexico and Brazil-based over-the-counter (OTC) businesses to Advent International. This transaction is part of Perrigo’s margin improvement program and Project Momentum cost savings initiative. Financial terms were not disclosed.
For the full year 2021, Perrigo realized $98 million in net sales from these margin dilutive businesses, which were included in the Consumer Self-Care Americas (CSCA) segment. This divestiture will have an immaterial impact on the Company’s adjusted diluted earnings per share in 2022.