Perrigo Agrees to Sell Infant Formula Business to MeridianMade for Up to $175 Million
Perrigo (PRGO) has entered into an agreement to divest its infant formula business to MeridianMade. The transaction is structured with an initial upfront cash payment of $40 million, supplemented by potential milestone-based payments totaling up to $135 million through the year 2030. The deal represents a strategic shift for Perrigo as it seeks to optimize its portfolio. While the immediate cash infusion is modest, the long-term performance incentives provide significant upside potential depending on the business's success under new ownership.
Tickers: $PRGO
Topics: Asset Sale Infant Formula M&A