Perrigo To Acquire German Dietary Supplement Maker
Perrigo Company plc has agreed to acquire Naturwohl Pharma GmbH, a German dietary supplement manufacturer. The company’s lead brand is Yokebe, a meal-replacement product. The transaction has been unanimously approved by the boards of directors of Perrigo and Naturwohl Pharma,and is expected to close in the third quarter, pending German regulatory approval and the satisfaction of customary closing conditions.
The Yokebe brand is expected to generate approximately EUR 30 million in full year 2015 net sales. Yokebe, the second largest dietary brand (by market share) in Germany, comes in a shake/liquid form.
The acquisition is the latest in a series by Perrigo to build its consumer healthcare business. The company agreed to acquire several over-the-counter (OTC) products from GlaxoSmithKline (GSK) in connection with GSK’s commitments to the European Commission and other regulators to divest these businesses in the context of the formation of a consumer health joint venture between GSK and Novartis International AG. That deal, which is expected to close in the third quarter of 2015, include: (1) GSK’s NiQuitin nicotine-replacement therapy (NRT) business, primarily in the European Economic Area(EEA) and Brazil, and Novartis’s legacy Australian NRT business, including the Nicotinell brand; (2) several assorted OTC brands, including Coldrex (cold and flu treatment) across the EEA, and Panodil (pain relief), Nezeril (nasal decongestant), and Nasin (nasal decongestant) in Sweden; and Novartis’s legacy cold-sore management products, primarily in the EEA, marketed under the brand names Vectavir, Pencivir, Fenivir, Fenlips and Vectatone.