ALLEGAN, Mich. Perrigo Co. on Wednesday announced that it has acquired Galpharm Healthcare for $86 million in cash.
Based in Yorkshire, England, privately-held Galpharm is a leading supplier of over-the-counter store brand pharmaceutical products sold by supermarkets, drug stores and pharmacies in the U.K. The acquisition is expected to add more than $55 million in sales annually and be accretive to earnings in the first year.
“The acquisition of Galpharm further expands our global presence, complements our existing UK business and increases value for our shareholders. It also helps us meet the world’s growing need for quality, affordable healthcare,” stated Perrigo chairman and chief executive officer Joseph Papa.