Connect with us

Headlines

Pet Health Company to Be Acquired in $185M Deal

The transaction is expected to close this year.

mm

Published

on

EAGLE, ID and OMAHA, NE — PetIQ Inc., a pet medication and wellness company, plans to acquire Perrigo Animal Health in a $185 million deal.

The deal is expected to close during the third quarter of this year subject to customary closing conditions, including the receipt of U.S. antitrust approval.

Headquartered in Omaha, NE, Perrigo Animal Health (NYSE: PRGO) is a manufacturer and marketer of over-the-counter pet health and wellness products with products sold under brands including PetArmor, Sentry and Sergeant’s.

With distribution across pet, grocery, mass, e-commerce, drug, club and specialty retail sales channels, Perrigo Animal Health has sales in the flea-and-tick, de-wormer, behavioral and dental categories, along with others.

It is supported by a manufacturing facility located in Omaha.

Advertisement

Cord Christensen, chairman and CEO of PetIQ (Nasdaq: PETQ), said:

“We believe this strategic transaction will create significant long-term value for all of our stakeholders as we further the execution of our Follow the Pets long-term strategy by combining our companies’ complementary branded pet health and wellness product offerings to create a larger and more diversified business. Similar to PetIQ, Perrigo Animal Health has a track record of building sales and category growth in areas complementary to PetIQ through offering high-quality and affordable veterinarian products to pet parents. This business combination is aligned with our mission to make pets’ lives better through improved access to affordable pet health care. We are excited for the opportunity to welcome Perrigo Animal Health’s team to PetIQ as we capitalize on our opportunities to increase our manufacturing scale, expand product and brand diversity, and improve our customer reach, all while we capture significant cost savings and synergies to fuel greater net sales and profitability.”

Since launching in 2017, PETS+ has won 16 major international journalism awards for its publication and website. Contact PETS+'s editors at editor@petsplusmag.com.

Advertisement

FEATURED VIDEO

World Pet Association

Superzoo Las Vegas | August 31- September 3, 2020

Discover new ways to stand out, be bold, and find your competitive differentiator at SuperZoo, the largest gathering of pet professionals in North America. Whether you run the top bird supply store in your hometown or you’re all about caring for cats, this is the place where you can.

Promoted Headlines

Most Popular