Irish headquartered healthcare products group, Perrigo, today said it is buying Belgium’s Omega Pharma for E3.6bn.
Perrigo said it would also take on E1.1m of debt from privately held Omega, according to Business World.
The Irish-based group will pay 25pc of the equity value of the deal through placement of shares to Omega founder Marc Coucke and the rest will be funded through a combination of cash and debt, Perrigo said.
Omega Pharma NV is one of the largest OTC healthcare companies in Europe, headquartered in Nazareth, Belgium.
The transaction, funded through a combination of cash, debt, and equity, will enhance Perrigo’s leading OTC product offering and expand its distribution through Omega’s strong established platform.
“The combination of these two great companies accelerates Perrigo’s international growth strategy, substantially diversifies our business streams and establishes a durable leadership position in the European OTC marketplace,” said the Chairman, President and Chief Executive Officer, Perrigo, Joseph C. Papa.
“We believe this strategic transaction will enhance shareholder value by further strengthening our industry-leading revenue and cash flow growth profile and by expanding market opportunities.
“Omega brings a leading OTC product portfolio, European capabilities, and a highly experienced management team to support Perrigo’s continued growth.”
“Our strong financial performance and operational structure have enabled the continued growth and globalization of our business model with Ireland as our gateway for this expansion. Together, our combined company will have an even larger product portfolio, broader geographic reach, and enhanced scale,” he added.
Perrigo said it would also take on E1.1m of debt from privately held Omega, according to Business World.
The Irish-based group will pay 25pc of the equity value of the deal through placement of shares to Omega founder Marc Coucke and the rest will be funded through a combination of cash and debt, Perrigo said.
Omega Pharma NV is one of the largest OTC healthcare companies in Europe, headquartered in Nazareth, Belgium.
The transaction, funded through a combination of cash, debt, and equity, will enhance Perrigo’s leading OTC product offering and expand its distribution through Omega’s strong established platform.
“The combination of these two great companies accelerates Perrigo’s international growth strategy, substantially diversifies our business streams and establishes a durable leadership position in the European OTC marketplace,” said the Chairman, President and Chief Executive Officer, Perrigo, Joseph C. Papa.
“We believe this strategic transaction will enhance shareholder value by further strengthening our industry-leading revenue and cash flow growth profile and by expanding market opportunities.
“Omega brings a leading OTC product portfolio, European capabilities, and a highly experienced management team to support Perrigo’s continued growth.”
“Our strong financial performance and operational structure have enabled the continued growth and globalization of our business model with Ireland as our gateway for this expansion. Together, our combined company will have an even larger product portfolio, broader geographic reach, and enhanced scale,” he added.
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