Perrigo Company To Acquire OTC Companion Animal Health Company, Velcera, Inc., For $1... ( ALLEGAN Mich. Feb. 1 2013 /- (L...)

Perrigo Company To Acquire OTC Companion Animal Health Company, Velcera, Inc., For $160 Million

Date:2/1/2013

ALLEGAN, Mich., Feb. 1, 2013 /PRNewswire/ -- Perrigo Company (Nasdaq: PRGO; TASE) today announced that it has signed a definitive agreement to acquire Yardley, PA based Velcera, Inc. for $160 million in cash. The acquisition is expected to close during calendar year 2013 pending the satisfaction of closing conditions, including regulatory approvals.

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Velcera is a leading companion pet health product company committed to providing consumers with best-in-class pet health products that contain the same active ingredients as branded veterinary products, but at a significantly lower cost. Velcera's products, including the PetArmor® flea and tick products, are available at major retailers nationwide, offering consumers the benefits of convenience and cost savings while providing high-quality care for their pets. Velcera marks Perrigo's second acquisition in the emerging OTC companion animal healthcare market, having recently acquired Sergeant's Pet Care Products, Inc. in October 2012.

Velcera, together with major retail partners, has been instrumental in developing an OTC market for pet health products traditionally dispensed only by veterinarians. Retail sales of the PetArmor® franchise exceeded $100 million during calendar year 2012, the value-brand's first full year on the market, having launched in April 2011. Velcera sales for the calendar year 2012 were approximately $60 million. The PetArmor® franchise brand will be supported by a number of pipeline product candidates in both flea and tick and health and wellness categories that will continue to bring additional vet technologies to the hands of consumers in the mass market.

Perrigo Chairman and CEO
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