Earnings

MeridianMade to Buy Perrigo Infant Formula in Up to $175 Million Deal

The Tip Desk · November 1, 2026 · 2 min read

The consumer-health company is selling the unit after a yearlong strategic review to sharpen its OTC self-care portfolio.

Perrigo Company plc (PRGO) agreed to sell its infant formula business to MeridianMade for total consideration of up to $175 million, completing a strategic review that began in November 2025.

The agreement to acquire the business provides for $40 million in cash at closing plus up to $135 million contingent on future performance milestones through 2030. Closing is expected in the first half of 2027, subject to customary conditions and regulatory approvals.

The company said the divestiture advances its evolution into a more focused consumer self-care company with a diversified portfolio of OTC products addressing essential, everyday health needs.

“Today’s announcement marks an important milestone in advancing the Streamline pillar of our Three-S plan to Stabilize, Streamline, and Strengthen the business,” said Albert Manzone, Interim President and Chief Executive Officer.

The infant formula unit had been under review since Perrigo said in November that the external environment had changed and that a fit with its consumer health OTC businesses was less strategic. The company then said the business was expected to generate net sales of approximately $360 million in 2025, or about 90% of its global Nutrition category and less than 10% of annual net sales, and that it had previously announced a $240 million investment in the unit.

Perrigo has been reporting results on a Core basis that excludes Infant Formula and previously announced divestitures. In February it said it was prioritizing resources toward that go-forward business and that its 2026 outlook reflected near-term headwinds.

The sale follows the April completion of the Dermacosmetics divestiture to Karo Healthcare for up to €332.6 million, a transaction the company also tied to the Streamline pillar of the Three-S plan. In August it said it was continuing strategic reviews of Infant Formula and Oral Care as it completed that dermatology sale.

Manzone’s comment placed the infant formula exit in the same Streamline sequence as the Dermacosmetics close, even as the company still has an Oral Care review open. Closing is expected in the first half of 2027, subject to customary conditions and regulatory approvals.