Perrigo to focus on OTCs, nutritionals with planned sale of personal care operation.
This article was originally published in The Tan Sheet
PERRIGO TO FOCUS ON OTC, NUTRITIONAL BUSINESSES through the divestiture of its $200 mil. personal care operations, the company announced June 29. The Allegan, Mich.-based private labeler's plan to divest personal care is part of a greater management restructuring to help Perrigo improve its margins and enhance its profitability. The personal care business has been Perrigo's second largest after OTCs, with sales of $526.5 mil., and followed by nutritionals, with sales of $110.4 mil. Perrigo has retained the investment banking firm J.P. Morgan to explore "strategic options to maximize the sale value of the personal care business."
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