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news.Irish pharmaceutical company Perrigo has acquired a US-based over-the-counter (OTC) scar management brand ScarAway from Enaltus.
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Perrigo’s expansive distribution and customer network in the US will be used to boost ScarAway’s growth.
ScarAway is expected to have net sales of around $10m in full, calendar year 2015.
The acquisition is expected to be immediately accretive to 2015 adjusted EPS and to immediately exceed Perrigo’s ROIC threshold.
Perrigo chairman, president and CEO Joseph C. Papa said: "While today’s acquisition of ScarAway is relatively small in comparison to other transactions we’ve recently announced, it serves as yet another example of our ability to execute on our ‘Base Plus Plus Plus’ strategy.
"We are excited to add this margin-enhancing asset to our already robust US OTC portfolio and believe that by leveraging our unique distribution and customer network, Perrigo is well positioned to accelerate the growth of this brand. We remain committed to pursuing accretive transactions, such as this one, and to further the execution of our strategy as we continue to deliver superior value for our shareholders."
The financial terms of the transaction are not disclosed.
Perrigo is said to be the world’s largest manufacturer of OTC healthcare products and supplier of infant formulas for the store brand market.