Perrigo Company plc, a global provider of healthcare products, said it acquired Omega Pharma NV, an over-the-counter (OTC) healthcare company headquartered in Nazareth, Belgium, for €3.6 billion, comprised of the purchase of Omega’s equity for €2.48 billion and the assumption of €1.1 billion in debt. The transaction, funded through a combination of cash, debt and equity, will enhance Perrigo’s OTC product offering and expand its distribution through Omega’s strong established platform.
“The combination of these two great companies accelerates Perrigo’s international growth strategy, substantially diversifies our business streams, and establishes a durable leadership position in the European OTC marketplace,” stated Joseph Papa, Perrigo chairman, president and CEO. “We believe this strategic transaction will enhance shareholder value by further strengthening our industry leading revenue and cash flow growth profile and by expanding market opportunities. Omega brings a leading OTC product portfolio, European capabilities and a highly experienced management team to support Perrigo’s continued growth.”