Combines Two Consumer-Focused Self-Care Companies Dedicated to Meeting Customer Needs; Expands Ability to Deliver Millions of Affordable Healthy Smiles Worldwide
GRAND RAPIDS, Mich., May 9, 2019 /PRNewswire/ -- Ranir, LLC, a leading global manufacturer of store brand and value brand oral care products under the Plackers® and REMBRANDT® trademarks, today announced it has entered into a definitive agreement to be acquired by Perrigo Company plc (NYSE; TASE: PRGO), a leading global provider of Quality, Affordable Self-Care Products™ for $750 million.
As a global leader in the store brand oral care market, Ranir's innovative technology spans consumer brands and private label products, including power and manual toothbrushes, teeth whiteners, dental floss, flossers and interdental brushes. Founded in 1979, Ranir's original mission was to provide its retail partners with store brand dental floss, and soon thereafter, manual toothbrushes. The company quickly grew to become the leader in both categories and later expanded offerings to include teeth whitening products, power toothbrushes and other oral healthcare products. Ranir's corporate headquarters in Grand Rapids, Michigan, houses its primary manufacturing facilities, which are designed to meet future growth. Perrigo's North American base of operations is also located in West Michigan, with facilities in Allegan, Michigan.
Ranir has achieved substantial growth organically and through strategic acquisitions that extended the company's distribution network, enhanced its new product pipeline and expanded its geographic footprint. Perrigo's acquisition of Ranir brings together two similar organizations to progress these shared goals.
Ranir's manufacturing expertise and focus on consumer and customer-driven product innovation had broadened the company's purpose to provide access to affordable oral self-care with store brand products that offer exceptional quality and value.
"Affordable self-care has never been more important as we face ever-increasing healthcare costs," said Rich Sorota, president and chief executive officer of Ranir. "We've worked hard over the past several years to execute a comprehensive growth plan to advance our purpose of 'Delivering Millions of Affordable, Healthy Smiles' every day. As part of this plan, we are taking the next step in our transformation, while remaining fully committed to our heritage and values. Our two companies are immensely complementary and aligned in our greater purpose and mission. Our combined talents, scale, global presence, innovation, and understanding of self-care will help support not only our local communities, but also our suppliers, retail partners and their consumers. This ultimately enables us to better pursue our purpose worldwide."
Perrigo President and CEO Murray S. Kessler commented, "The addition of Ranir to the Perrigo family illustrates a key component of our new strategy; accelerating growth by pursuing adjacent self-care categories. I can't emphasize enough the opportunity we believe that exists by combining these two companies that are so closely aligned. This is highlighted by their geographic proximity, scale in store brands, leading market shares, strong and complementary customer relationships, a focus on quality, similar company cultures and a shared belief in the opportunity presented by the self-care mega-trend. We expect this strategic combination will enhance shareholder value."
William Blair & Company, L.L.C. acted as the exclusive financial advisor for Ranir on the transaction. Kirkland & Ellis LLP acted as legal advisor to Ranir.
Perrigo received legal advice from Morgan, Lewis & Bockius.
Ranir products can be found anywhere oral care products are sold including more than 150,000 store front and online retailers in more than 50 countries. The company employs more than 650 people worldwide and has proprietary and patented products, as well as a growing portfolio of consumer brands.
About Ranir, LLC
Ranir is a leading global manufacturer of store brand private label consumer oral care products, including power and manual toothbrushes, teeth whiteners, dental floss, flossers and interdental brushes. Founded in 1979, Grand Rapids, Michigan-based Ranir serves retail customers globally and is committed to delivering affordable, healthy smiles in millions of households every day. Its products, which include some of the world's largest oral care store brands, can be found at major retailers in more than 50 countries. The consumer and customer insight driven research and development-focused company also owns, manufactures and markets the Plackers® and REMBRANDT® brands and proudly employs more than 650 associates worldwide. For more information, visit www.ranir.com.
Perrigo Company plc (NYSE;TASE: PRGO) is dedicated to making lives better by bringing "Quality, Affordable Self-care Products™" that consumers trust everywhere they are sold. The Company is a leading provider of over-the-counter health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Visit Perrigo online at (http://www.perrigo.com).
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