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DUBLIN, Ireland — Perrigo Co. plc plans to sell its U.S. vitamins, minerals and supplements (VMS) business to International Vitamin Corp. (IVC).
Financial terms of the deal weren’t disclosed. Perrigo said Monday that the company had been looking to sell off its VMS business and that it expects the transaction to close by early August, pending customary closing conditions.
“Our decision late last year to divest the U.S. VMS business was part of our ongoing portfolio assessment and ensures that we remain focused on our most profitable and strategic businesses. Having explored various options over the past several months, we are pleased to have reached an agreement to sell the business to IVC,” stated Perrigo chief executive officer John Hendrickson.
“We look forward to working with the IVC team to seamlessly transition the business and ensure that our customers continue to receive exceptional service during this transitional period,” Hendrickson added. “Finally, we would like to take this opportunity to thank the more than 300 Perrigo employees who are dedicated to the VMS business for all of their contributions to Perrigo and to wish them all the very best going forward.”
Perrigo’s VMS business is part of the Perrigo Nutritionals division, whose products core products are store-brand infant formula and pediatric nutritionals.
Freehold, N.J.-based IVC provides private-label and contract manufacturing services for the VMS market and serves thousands of retail stores in the food, drug, mass merchant, warehouse club and natural products channels. Products include vitamins C, D, E and B; multivitamins; CoQ10; glucosamine/chondroitin; fish oil; calcium; and herbs. Available form factors include tablets, softgels, chewables, two-piece capsules, orally disintegrating tablets, gummies, liquids and powders.
IVC’s roster of brands includes Stresstabs energy and relaxation supplements, Posture-D calcium caplets, Ferro-Sequels iron supplements, Ironman whey protein, SpongeBob Squarepants and Teenage Mutant Ninja Turtles gummy multivitamins, Cran-Max cranberry supplements, Fast-Acting B12 tablets, Protegra antioxidant multivitamins, Soy Care menopause capsules, and AllBee and Z-Bec B-complex supplements.
