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Perrigo is set to acquire Yokebe in Germany
Πέμπτη 30 Ιούλ 2015
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Perrigo is set to acquire Germany's Naturwohl Pharma, including its Yokebe brand, for an undisclosed sum. The deal is the third acquisition announced by Perrigo since it became the target of a hostile takeover bid by generics firm Mylan.
Ireland-based Perrigo said Yokebe, which is marketed within Germany's "meal replacement" category, was expected to generate sales of approximately €30 million (US$33 million) in 2015. The standard Yokebe is available as a range of liquid shake products, while Yokebe Plus comes as a dietary supplement in the form of oral capsules.

Mylan made its move on 8 April 2015, just days after Perrigo completed the acquisition of Belgian OTC specialist Omega Pharma for €3.8 billion including the assumption of €1.3 billion in debt.

The generics company initially offered to buy Perrigo in a cash and shares deal worth US$30.1 billion. However, Perrigo has resisted Mylan's approaches, and rejected a third "unsolicited" takeover proposal on 29 April 2015.

Soon afterwards, in May 2015, Perrigo announced that it had gained a presence in softgel manufacturing by acquiring the Mexican operations of US-based Patheon for US$34 million in cash.

The following month, Perrigo said it was acquiring a portfolio of OTC brands from GlaxoSmithKline Consumer Healthcare, including nicotine-replacement therapy (NRT) products, cold and flu remedies, and cold-sore treatments. The deal includes the NiQuitin NRT business in Europe, Brazil and Turkey, as well as the Nicotinell NRT business in Australia.

Perrigo's Base Plus Plus Plus strategy

Commenting on the latest deal, Perrigo's chairman, president and chief executive officer Joseph Papa said acquiring the "margin-enhancing" Yokebe brand demonstrated the company's "continued execution of its Base Plus Plus Plus strategy by building on Omega Pharma's leading OTC product portfolio and European commercial infrastructure".

The transaction had been approved unanimously by the boards of Perrigo and Naturwohl Pharma, said Perrigo, adding that it was expected to close in the third quarter pending German approval and satisfaction of customary closing conditions.

Ferber & Co acted as the exclusive merger and acquisition adviser to Perrigo during the acquisition of Yokebe.

Πηγή:  OTC Toolbox

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