Perrigo Company Completes Acquisition of Wrafton Laboratories Ltd.
The Perrigo Company (NASDAQ: PRGO) today announced it has acquired Wrafton Laboratories Ltd., a store brand supplier to grocery and pharmacy retailers in the U.K. and a contract manufacturer of pharmaceuticals. On June 1 Perrigo announced the agreement to purchase Wrafton from McBride plc (LONDON: MCB) for $44 million, noting that Wrafton's manufacturing expertise and retail customer base would provide access to the growing U.K. store brand market.
Based in Braunton, North Devon, United Kingdom, Wrafton employs approximately 500 people and has trailing 12-month sales of approximately $37 million. The Company's store brand products include analgesics, cough, cold and flu remedies and antacids.
Perrigo Company is the nation's largest manufacturer of over-the-counter (non-prescription) pharmaceutical and nutritional products for the store brand market. Store brand products are sold by national and regional supermarket, drugstore and mass merchandise chains under their own labels and compete with nationally advertised brands. The Company's products include over-the-counter pharmaceuticals, such as analgesics, cough and cold remedies, antacids, laxatives, feminine hygiene and smoking cessation products, and nutritional products, such as vitamins, nutritional supplements and nutritional drinks. Visit Perrigo on the Internet at http://www.perrigo.com/ .
Note: Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and are subject to the safe harbor created thereby. Please refer to pages 23-27 of the Company's Form 10-K for the year ended July 1, 2000 for a discussion of certain important factors that relate to forward- looking statements contained in this press release. Although the Company believes that the expectations reflected in any such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
SOURCE: Perrigo Company
Contact: Ernest J. Schenk, Manager, Investor Relations and Communication
of Perrigo Company, 616-673-9212, or email, firstname.lastname@example.org
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