Perrigo Co. to purchase Sergeant's Pet Care for $285 million
All-cash transaction deal with human over-the-counter prescription drug maker to close in second-quarter 2013
Perrigo Co., a manufacturer and distributor of over-the-counter and generic prescription drugs for the human market, will purchase Sergeant’s Pet Care Products Inc. in an all-cash transaction valued at $285 million, according to the companies.
Privately held Sergeant's Pet Care Products manufactures the Vetscription Cat Hairball Remedy, Geisler line of food and treats for birds and small animals, and the Atlantis line of fish food. The company anticipates sales of more than $140 million in fiscal 2012.
“This acquisition allows us to penetrate the pet care category by offering numerous flea and tick, health and well-being, and consumable products to pet owners at affordable prices,” Perrigo chairman and CEO, Joseph C. Papa said. “Sergeant’s has a proven record of innovation, high-quality manufacturing with great customer service. We welcome Sergeant’s 200-plus employees and over 1,000 SKUs to the Perrigo family.”
The acquisition is expected to close in the second quarter of 2013.