Wendy future of retail top

Perrigo acquires Ranir Global Holdings

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DUBLIN — Perrigo announced Thursday that it has reached a definitive agreement to purchase privately-held Ranir Global Holdings in a transaction valued at $750 million on a cash-free, debt-free basis, or approximately $685 million net of cash tax benefits on a present value basis. Ranir is the largest private label oral care company globally, with a comprehensive portfolio of over 300 highly customized oral care solutions including power toothbrush heads, power toothbrush handles, whitening strips, manual toothbrushes, floss, dentures and travel kits that it sells into over 50 countries worldwide. This transaction advances Perrigo’s transformation to a consumer-focused, self-care company while enhancing its position as a global leader in consumer self-care solutions.

“The addition of Ranir to the Perrigo family illustrates a key component of our new strategy, accelerating growth by pursuing adjacent self-care categories,” said Perrigo chief executive officer and president Murray Kessler.  “I can’t emphasize enough the opportunity we believe exists by combining these two companies that are so closely aligned. This is highlighted by their geographic proximity, scale in store brands, leading market shares, strong and complementary customer relationships, a focus on quality, similar company cultures and a shared belief in the opportunity presented by the self-care mega-trend. We expect this strategic combination will enhance shareholder value and we are excited to provide more details at today’s Investor Day event.”

“Affordable self-care has never been more important as we face ever-increasing healthcare costs,” said Rich Sorota, CEO and president of Ranir. “We’ve worked hard over the past several years to execute a comprehensive growth plan to advance our purpose of ‘Delivering Millions of Affordable, Healthy Smiles’ every day. As part of this plan, we are taking the next step in our transformation, while remaining fully committed to our heritage and values. Our two companies are immensely complementary and aligned in our greater purpose and mission. Our combined talents, scale, global presence, innovation, and understanding of self-care will help support not only our local communities, but also our suppliers, retail partners and their consumers. This ultimately enables us to better pursue our purpose worldwide.”


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