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Perrigo divests Israel consumer biz

This article was originally published in The Rose Sheet

Executive Summary

Allegan, Mich.-based Perrigo Company signed an agreement to sell its Israel Consumer Products business and related production assets to Emilia Group, a subsidiary of O. Feller Holdings Ltd., for approximately $54 mil. The transaction will close in the first quarter of 2010, the firm says. The divestment "execut[es] our previously announced decision to exit this business," Perrigo Chairman and CEO Joseph C. Papa said in a statement. Perrigo will provide distribution and support services for the related U.S. private label cosmetics business for 12 months after the close of the transaction, release states
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