Perrigo Announces Agreement to Divest Infant Formula Business to MeridianMade
Key Highlights
- ➤Perrigo agrees to sell Infant Formula business to MeridianMade for up to $175 million
- ➤Consideration includes $40 million cash upfront and up to $135 million milestone payments
- ➤Perrigo expects fourth-quarter 2026 impairment charge of $275 million to $375 million
- ➤Infant Formula generated $380 million sales and $8 million adjusted operating income
- ➤Closing expected in first half of 2027, subject to customary conditions and regulatory approvals
Expert Statements
Albert Manzone, Interim President and Chief Executive Officer of Perrigo
“Today's announcement marks an important milestone in advancing the Streamline pillar of our Three-S plan to Stabilize, Streamline, and Strengthen the business”
Albert Manzone, Interim President and Chief Executive Officer of Perrigo
“For Perrigo, this transaction is expected to enhance our margin profile, materially reduce expected future capital expenditures, and enable us to concentrate resources on strengthening our core consumer self-care portfolio.”
Albert Manzone, Interim President and Chief Executive Officer of Perrigo
“Our Infant Formula colleagues have worked with tremendous dedication to enhance performance and improve operations, which has positioned Infant Formula well for its next chapter.”
Albert Manzone, Interim President and Chief Executive Officer of Perrigo
“We are confident that with its singular focus on infant nutrition and commitment to quality, safety, and continuity, MeridianMade is the right manufacturer to carry this important category forward.”
Ron Belldegrun, CEO of MeridianMade
“This acquisition is a commitment to responsible stewardship of store-brand infant formulas, which offer American families a more affordable option for safe, high-quality infant nutrition.”
Mia Funt, President of MeridianMade
“We look forward to working with the Perrigo team throughout the transition and continuing to support this critical source of infant nutrition.”
Perrigo Announces Agreement to Divest Infant Formula Business to MeridianMade PR Newswire
* Advances Streamline pillar of Perrigo's Three-S plan through portfolio simplification * Furthers Perrigo's evolution into a simpler, more focused consumer self-care company * Expected to enhance Perrigo's margin profile and eliminate significant expected future capital expenditures * Aligns reported results more closely with the financial profile of Core Perrigo * MeridianMade's infant-grade, American manufacturing infrastructure and operating capabilities will support the continued supply of safe, high-quality, and affordable infant nutrition DUBLIN, Oct. 29, 2026 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO) ("Perrigo" or "the Company"), a leading provider of consumer self-care products, today announced that it has entered into a definitive agreement pursuant to which MeridianMade, an American contract manufacturing platform dedicated to infant nutrition, will acquire Perrigo's Infant Formula business for total consideration of up to $175 million. The transaction consists of $40 million in cash at closing and up to an additional $135 million contingent on the achievement of future performance milestones through 2030.
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