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Pet Health Company to Be Acquired in $185M Deal

The transaction is expected to close this year.

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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.

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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.”

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