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Perrigo Company sells Israeli cosmetics business for €36m

03-Nov-2009

Global healthcare supplier, Perrigo Company, has signed a definitive agreement to sell its Israel Consumer Products business for ILS205m (€36.7m).

Emilia Group, a subsidiary of O. Feller Holdings, will acquire the business along with related production assets in Israel.

Perrigo says it will provide distribution and support services for the related U.S. private label cosmetics business for twelve months after the close of the transaction.

Chairman and CEO, Joseph C. Papa, said that for Perrigo, the sale “reflects our on-going process of optimising our portfolio based on our stringent Return on Investment Capital (ROIC) guidelines.”

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