Perrigo sells VMS business to International Vitamin Corporation

DUBLIN  - Perrigo on Monday announced that it has reached a definitive agreement to sell its U.S. vitamins, minerals and supplements business to International Vitamin Corporation.

The transaction is subject to customary closing conditions and is expected to close by early August.

"Our decision late last year to divest the U.S. VMS business was part of our ongoing portfolio assessment and ensures that we remain focused on our most profitable and strategic businesses," stated John Hendrickson, Perrigo CEO. "Having explored various options over the past several months, we are pleased to have reached an agreement to sell the business to IVC. We look forward to working with the IVC team to seamlessly transition the business and ensure that our customers continue to receive exceptional service during this transitional period."

Warner Norcross & Judd LLP served as Perrigo's legal advisor and Houlihan Lokey served as Perrigo's exclusive financial advisor on the transaction.