NEW YORK CITY (dpa-AFX) - Perrigo Company plc (PRGO) has signed a binding offer to acquire Héra SAS or HRA Pharma, a consumer self-care company, from funds affiliated with Astorg and Goldman Sachs Asset Management. The deal is valued at approximately $2.1 billion in cash. Perrigo said HRA would strengthen the company's OTC self-care offerings.
'With the addition of HRA and its talented leadership team, Perrigo would be a consumer self-care global leader that is poised to deliver top tier net sales growth and double-digit EPS growth in the near-term while concurrently expanding margins,' said Murray Kessler, CEO, Perrigo.
Perrigo plan to save more than 30 million euros annually by 2023 from unlocking meaningful operational synergies from the acquisition. These synergies, along with HRA's financial profile, are anticipated to add approximately 400 million euros in net sales and $1.00 in adjusted earnings per share in fiscal 2023.
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