Perrigo recently revealed that it has bought out PATHEON INC (OTCMKTS:PNHNF) which is based in Mexico. The acquisition is reportedly worth $34 million.
The acquisition is expected to be up to speed with the current financial year’s adjusted EPS after transaction and remuneration costs have been deducted.
Perrigo’s Chief Executive officer and Chairman, Joseph C. Papa said that the company is happy to reveal the news about the new acquisition. He also said the company is thrilled by the multiple advantageous services that it will offer to the Mexican division. Perrigo has been aspiring to venture into large scale production of soft gel products.
The firm hopes that the acquisition of Patheon’s Mexican business will be an opportune chance to penetrate into the industry. He further added that his company has the right knowledge required to harness the potential of its acquisition and use its influence to boost growth and value to clients and stockholders.
Perrigo’s new acquisition it’s a good show of the company’s willingness and devotion to deliver good quality and reasonably priced healthcare products and services. It is also show of the company’s desire to expand its influence on a global scale.
Since its initiation in 1887, the company has experienced continued growth from a mere home remedy packing service to a major supplier and manufacturer of over-the-counter products. It also supplies infant formulas.
In addition, Perrigo expanded to different other business ventures. This strategy has given the company the capacity to reach multiple markets through its wide reach programs which reach multiple countries. Today, Perrigo boasts of operations in some of the biggest economies such as the United States, Europe, Australia, China, Israel and others.
The new acquisition will allow the company to deliver more refined services in a speedy manner. Both companies will benefit from the combined popularity and unified resources which will be instrumental in their service delivery system.
Perrigo’s new deal with Patheon joins the trend as one of the record number of acquisitions that have taken place so far within this year.
