Perrigo Acquires Patheon’s Mexican Operations
Perrigo Company plc, a provider of specialty, generic, and over-the-counter products, has acquired the Mexican operations of Durham, North Carolina-based Patheon for $34 million in cash.
The move positions Perrifo into softgels. “We are pleased to announce this transaction and are excited by the many important benefits it provides to the company,” said Perrigo Chairman, President and CEO Joseph C. Papa, in a company statement. “Perrigo has long desired to be a prime manufacturer of softgel products, and we believe the acquisition of Patheon’s Mexican operations serves as an ideal entry point into the space. Additionally, and importantly, we believe Perrigo is uniquely positioned to maximize the potential of the business by leveraging our own Mexican operations to drive growth and value for our customers and shareholders. “