Perrigo puts personal care on the selling block, will close two manufacturing facilities.
This article was originally published in The Rose Sheet
Executive Summary
PERRIGO TO DIVEST PERSONAL CARE BUSINESS to concentrate on its over-the-counter drug and nutritional supplements businesses, the company announced June 29. The Allegan, Mich.- based private labeler has retained the investment banking firm J.P. Morgan to explore "strategic options to maximize the sale value of the personal care business." The plan to divest personal care is part of a greater management restructuring to help Perrigo improve its margins and enhance its profitability.