DUBLIN (dpa-AFX) - Perrigo Co. plc (PRGO), a provider of Consumer Self-Care Products, announced Monday it has signed an agreement with Kairos Bidco AB, an investment vehicle managed by global investment firm KKR, to sell its Dermacosmetics branded business for up to 327 million euros.
The consideration comprises of 300 million euros in upfront cash and up to an additional 27 million euros contingent on the achievement of net sales milestones over the next three years.
This transaction advances Perrigo's Three-S plan to Stabilize, Streamline and Strengthen the organization, honing its strategic focus to invest in its 'high-grow', high-return opportunities. The trusted brands within this proposed transaction include ACO, Biodermal, Emolium and Iwostin.
Perrigo expects the net proceeds from the transaction to be directed towards previously announced capital allocation priorities, including further strengthening the Company's balance sheet and supporting long-term value creation.
The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approvals and consultation with works council.
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