MeridianMade acquires US$175M Perrigo’s Infant Formula business

IRELAND – MeridianMade, an American contract manufacturing platform dedicated to infant nutrition, has acquired Perrigo’s Infant Formula business for total consideration of up to US$175 million.

This divestiture advances Perrigo’s evolution into a more focused consumer self-care company with a diversified portfolio of OTC products addressing essential, everyday health needs.

The agreement follows a comprehensive review of strategic alternatives for the Infant Formula business and reflects careful consideration of the best path forward for the business and its stakeholders.

MeridianMade is a company built entirely around infant nutrition with a singular focus on providing safe, high-quality formula to families and caregivers, with the infant-grade, domestic

Ron Belldegrun, CEO of MeridianMade, and Mia Funt, President of MeridianMade, said, “This acquisition is a commitment to responsible stewardship of store-brand infant formulas, which offer American families a more affordable option for safe, high-quality infant nutrition. We look forward to working with the Perrigo team throughout the transition and continuing to support this critical source of infant nutrition.”

Until closing, Perrigo’s Infant Formula business and MeridianMade will continue to operate as independent companies, and Perrigo will continue to own and operate the Infant Formula business with the same focus on safety, quality, reliable supply, and customer service.

Closing is expected in the first half of 2027. The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals.

As a result of the transaction, Perrigo’s future reported results are expected to more closely reflect the financial profile of Core Perrigo, which Perrigo management believes will provide a clearer view of its ongoing business.

Core Perrigo excludes Infant Formula and certain previously announced divestitures and exited products. Infant Formula will continue to be reported in All In results for the third quarter of 2026.

Beginning in the fourth quarter of 2026, Infant Formula will be included in discontinued operations.

In connection with the announced transaction, the Company expects to record a non-cash impairment charge in the fourth quarter of 2026 in the range of US$275 to US$375 million.

In the trailing four quarters ended June 27, 2026, Infant Formula generated net sales of $380 million and segment adjusted operating income of US$8 million.

The transaction is expected to significantly reduce Perrigo’s future capital expenditure requirements.

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