NEW YORK, February 1, 2013: Perrigo Company, a leading global provider of quality, affordable healthcare products, today announced that is has signed a definitive agreement to acquire leading companion pet health product company Velcera, Inc., for $160 million in cash. The acquisition is expected to close during calendar year 2013 pending the satisfaction of closing conditions, including regulatory approvals.
The acquisition of Yardley, Pa.-based Velcera marks Allegan, Mich.-based Perrigo's second acquisition in the emerging over-the-counter companion animal healthcare market, having acquired Sergeant's Pet Care Products, Inc. in October 2012. Velcera's products, including PetArmor flea and tick products, are available at major retailers nationwide.
Morgan Lewis served as legal adviser to Perrigo on the acquisition. The deal team was led by Business & Finance partner Sheryl Orr and included Business & Finance partner Robert Robison and associates Priscila McCalley and Sarah Grimm. Also assisting were Employee Benefits and Executive Compensation partner Gary Rothstein and associate Eric Sarabia, Antitrust practice group leader and partner Scott Stempel, Antitrust partner Harry Robins and associate David Brenneman, Tax partner Kenneth Kail, Real Estate of counsel Kathleen Martin and associate Rebecca Roman, and Business & Finance partner and leader of the Environmental Transactions practice Judith Walkoff.
For further information, please see Perrigo's press release.