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Perrigo Adjusts Guidance After Acquiring Ranir Global For $750M

Tanzeel Akhtar

Perrigo Company (NYSE: PRGO) has acquired Ranir Global Holdings, a supplier of oral self-care products for $750 million in cash.

Perrigo also adjusted its FY2019 earnings guidance, from $3.75-$4.05 including accretion of 10 cents from the Ranir acquisition.

"We are pleased to announce the successful completion of this bolt-on acquisition and look forward to welcoming the talented Ranir team to the Perrigo family,” said Perrigo CEO Murray Kessler. “Our combined scale, global presence, innovation pipelines, and shared self-care strategies immediately accelerates growth and enhances our robust store brand portfolio."

Perrigo's stock traded higher by 1.2% at $49.01 per share Tuesday afternoon. The stock has a 52-week high of $80.66 and a 52-week low of $36.28 per share.

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