Perrigo to acquire High Ridge Brands’ oral care portfolio

Perrigo is continuing to grow its oral care offerings through acquisitions. The company is acquiring all the oral care assets of bankrupt manufacturer High Ridge Brands for a cash price of $113 million. 

“The strategic acquisition of these oral care assets highlights the tremendous value of the Ranir platform, and it underscores that there are numerous bolt-on opportunities that can advance Perrigo as a global self-care leader,” said Murray Kessler, Perrigo president and CEO. “It also demonstrates that Perrigo will remain disciplined and mindful of maximizing shareholder value as it proceeds with its portfolio reconfiguration plans.”

Perrigo has been building out its oral care portfolio, beginning with the acquisition of leading private label oral care company Ranir in July 2019. Most recently, Ranir acquired Steripod, a maker of toothbrush accessories that include toothbrush protectors, kids’ products and tongue cleaners. The High Ridge Brands acquisition will include such brands as Firefly, Reach and Dr. Fresh, and the company is aiming to improve its positioning in value brands and create a platform for innovative store brand programs to challenge national brands. 

“We are once again capitalizing on our strategic pursuit of attractive growth opportunities aimed at enabling enhanced, affordable access to innovative oral self-care products,” said Rich Sorota, incoming executive vice president and president of Perrigo consumer self-care Americas. “This acquisition provides us with well-established oral self-care brands that will contribute positively to our long-term growth objectives through new product innovation, leveraging our scale to increase distribution and expanding product reach through e-commerce. The traditional store brand landscape is evolving, and we are well-positioned to provide our retail partners with exclusive branded programs and product innovations that resonate uniquely with today’s consumer.”
 
The transaction, which is subject to bankruptcy court approval and other customary conditions, is expected to close in the first quarter of 2020.