Perrigo to Acquire U.S. Distributor of Healthcare & Consumer Goods Products, Geiss, Destin & Dunn
DUBLIN, Aug. 17, 2016 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO; TASE) announced today that it has agreed to acquire Peachtree City, Georgia-based, Geiss, Destin & Dunn, Inc. ("GDD"), a small national distributor of over-the-counter healthcare and consumer goods products to the non-chain retail and institutional markets. The transaction is expected to close by the end of August.
Perrigo CEO John T. Hendrickson commented, "Today's acquisition of GDD, while relatively small in transaction value compared to other acquisitions we've made, further strengthens and diversifies our U.S. distribution and retail network, providing us direct access to the non-mass retail market. While we currently distribute product to this channel through GDD, I am pleased we will now bring the management of this business completely in-house. We look forward to welcoming the GDD team to Perrigo and are committed to serving our customers and consumers across the globe with quality affordable healthcare products."
Perrigo Company plc, a top five global over-the-counter ("OTC") consumer goods and pharmaceutical company, offers patients and customers high quality products at affordable prices. From its beginnings in 1887 as a packager of generic home remedies, Perrigo, headquartered in Ireland, has grown to become the world's largest manufacturer of OTC products and supplier of infant formulas for the store brand market. The Company is also a leading provider of generic extended topical prescription products and receives royalties from Multiple Sclerosis drug Tysabri®. Perrigo provides Quality Affordable Healthcare Products® across a wide variety of product categories and geographies primarily in North America, Europe, and Australia, as well as other markets, including Israel, China and Latin America. Visit Perrigo online at (http://www.perrigo.com).
Certain statements in this press release are "forward-looking statements." 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 the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including the timing, amount and cost of share repurchases, future impairment charges, the ability to achieve its guidance and the ability to execute and achieve the desired benefits of announced initiatives. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-KT for the six-month period ended December 31, 2015, as well as the Company's subsequent filings with the SEC, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and 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.
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SOURCE Perrigo Company plc
For further information: Perrigo Contacts, Bradley Joseph, Vice President, Global Investor Relations, (269) 686-3373, email@example.com, Arthur J. Shannon, Vice President, Global Corporate Affairs and European Investor Relations, +353 1709 4709, firstname.lastname@example.org