NEW YORK, March 23, 2010: Perrigo Company today announced that it has signed a definitive merger agreement to acquire PBM Products, LLC, the leading store-brand infant formula manufacturer, for approximately $808 million in cash. Privately held PBM is the largest manufacturer and marketer of infant formulas sold by drug stores and pharmacies in the United States, Canada, Mexico, and China. Morgan Lewis advised Perrigo on the acquisition.
The Morgan Lewis team included Business and Finance partners Robert G. Robison, R. Alec Dawson, and Richard S. Petretti, assisted by associates Sheryl L. Orr, Rachel B. Wolman, Stephen W. Nesspor, and Michael J. Melone; Antitrust partner Scott A. Stempel, assisted by associate Alexis J. Gilman; Employee Benefits partner Craig A. Bitman; Environmental partner Judith A. Walkoff; Tax partner Kenneth S. Kail; and Real Estate associate Kathleen M. Martin.
For additional details on the transaction, please see Perrigo’s press release at http://www.perrigo.com/uploadedfiles/Investors/Press_Releases/100322%20PlumFinal.pdf.