(Reuters) -Perrigo Company Plc said on Wednesday it plans to buy HRA Pharma from investment firms Astorg and Goldman Sachs Asset Management in a cash deal valued at 1.8 billion euros ($2.13 billion), as it seeks to expand its consumer healthcare offerings.
Perrigo, which has been focusing on its core consumer healthcare business, completed the sale of its underperforming generics drugs business to Altaris Capital Partners LLC for $1.55 billion in July.
The company offers a range of health and wellness products in the North American and European markets including skincare, vitamins, supplements, painkillers and sleep-aids.
With the planned acquisition of Paris-based HRA Pharma, Perrigo would be able to add high-growth over-the-counter self-care brands in blister care, women’s health and scar care to its portfolio and expand its presence in the European market, the company said.
Perrigo said the acquisition is expected to add about 400 million euros ($472.56 million) to its net sales and $1 in adjusted earnings per share in 2023.
The deal is expected to close by the end of the first half of next year.
($1 = 0.8461 euros)