Perrigo divests vitamins, minerals and supplements business to IVC

Perrigo Company plc, Dublin, said it reached a definitive agreement to sell its U.S. vitamins, minerals and supplements (VMS) business to Freehold, N.J.-based International Vitamin Corp. (IVC), a supplier of private label vitamins and supplements. The transaction is subject to customary closing conditions and is expected to close by early August.

"Our decision late last year to divest the U.S. VMS business was part of our ongoing portfolio assessment and ensures that we remain focused on our most profitable and strategic businesses," said John T. Hendrickson, CEO, Perrigo. "Having explored various options over the past several months, we are pleased to have reached an agreement to sell the business to IVC. We look forward to working with the IVC team to seamlessly transition the business and ensure that our customers continue to receive exceptional service during this transitional period."

According to a June 20 article on TheStreet.com, the transaction makes IVC the largest provider of private label vitamins and supplements in the United States in terms of dollar volume and units sold.