Perrigo Company to Acquire Certain Assets of APG, Inc.
The Perrigo Company (NASDAQ: PRGO) announced today that it has entered into a purchase agreement to acquire certain assets of APG, Inc., a privately-owned contract manufacturer and packager of aerosol products. The purchased assets include national brand equivalent formulations for anti-fungal foot care products. The transaction is expected to close on or before September 1, 2004. Terms were not disclosed.
In making the announcement, Perrigo Chairman, President and Chief Executive Officer, David T. Gibbons, said, "This is a small but strategic acquisition for Perrigo. It fits nicely within our Consumer Healthcare business, allows us to grow in an adjacent product category, and demonstrates our commitment to grow our business and become a more important supplier to our retail customers." The acquisition is expected to add up to $5 million in sales on an annual basis.
Perrigo Company is the nation's largest manufacturer of over-the-counter (non-prescription) pharmaceutical and nutritional products sold by supermarket, drug, and mass merchandise chains under their own labels. The Company's products include over-the-counter pharmaceuticals such as analgesics, cough and cold remedies, gastrointestinal, and feminine hygiene products, and nutritional products, such as vitamins, nutritional supplements and nutritional drinks. Visit Perrigo on the Internet (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. These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or other comparable terminology. Please see the "Cautionary Note Regarding Forward-Looking Statements" on pages 25 - 30 of the Company's Form 10-K for the year ended June 28, 2003 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 these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Perrigo Company
CONTACT: Ernest J. Schenk, Manager, Investor Relations and Communication
of Perrigo Company, +1-269-673-9212, E-mail: firstname.lastname@example.org
Web site: http://www.perrigo.com/