Perrigo closes PBM Holdings acquisition

ALLEGAN, Mich. Perrigo on Monday announced that it has closed the previously announced acquisition of PBM Holdings, one of the world's largest manufacturers of infant formula for store-brand markets.

Headquartered in Gordonsville, Va., PBM manufactures and distributes over-the-counter store brand infant formula and baby foods sold by retail supermarkets and pharmacies in the United States, Canada, Mexico and China.

Under the terms of the agreement, Perrigo acquired 100% of the shares of PBM Holdings for $808 million in cash.