LONDON (ShareCast) - (Sharecast News) - Perrigo has agreed to buy HRA Pharma, a global consumer self-care company, from funds affiliated with private equity firm Astorg and Goldman Sachs Asset Management in a $2.1bn deal.
Perrigo said HRA is one of the fastest growing over-the-counter companies globally, with three category-leading self-care brands in blister care (Compeed®), women's health (ellaOne®) and scar care (Mederma®).

"This scale acquisition would complete Perrigo's transformation to a global leader in consumer self-care, bolster its presence in high-potential European markets and meaningfully improve its already strong operational and financial profile," it said.

Perrigo said the deal will bolster the company's footprint in its European markets while adding scale to its operations in key underpenetrated European markets, providing significant opportunities for additional growth.

The group said it plans to save more than €30m a year by 2023 from unlocking meaningful operational synergies. These synergies, along with HRA's "strong market position and attractive financial profile", are expected to add around €400m in net sales and $1.00 in adjusted earnings per share in FY 2023.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE