Perrigo Sheds Infant Formula Division in $175 Million Deal

Perrigo is offloading its infant-formula business to MeridianMade in a transaction valued at up to $175 million. The move marks a strategic shift for the consumer goods firm, which aims to sharpen its focus on over-the-counter self-care products while shedding the capital-intensive demands of the formula market.

Today, 20:04· Money Talk· 431 reads

Perrigo Sheds Infant Formula Division in $175 Million Deal

The agreement includes an upfront cash payment of $40 million, with the remaining $135 million contingent upon performance milestones met through 2030. Alongside the sale, Perrigo anticipates a non-cash impairment charge ranging from $275 million to $375 million to be recorded in the fourth quarter. The company expects to finalize the transition during the first half of next year.

MeridianMade, a contract manufacturing platform, is steered by CEO Ron Belldegrun and President Mia Funt. The pair previously co-founded ByHeart, an infant-formula producer that faced a widespread recall of its U.S. products last year following a link to a botulism outbreak.

Perrigo Sheds Infant Formula Division in $175 Million Deal

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