{"id":34097,"date":"2012-09-13T12:17:00","date_gmt":"2012-09-13T12:17:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/perrigo-company-prgo-to-acquire-assets-of-sergeants-pet-care-products\/34062\/"},"modified":"2012-09-13T12:17:00","modified_gmt":"2012-09-13T12:17:00","slug":"perrigo-company-prgo-to-acquire-assets-of-sergeants-pet-care-products","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/perrigo-company-prgo-to-acquire-assets-of-sergeants-pet-care-products\/34097\/","title":{"rendered":"Perrigo Company &#8211; PRGO &#8211; To Acquire Assets Of Sergeant\u2019s Pet Care Products"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><strong><a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=PRGO\">Nasdaq: PRGO<\/a>)<\/strong> announced that it has signed a definitive agreement to acquire substantially all of the assets of Sergeant\u2019s Pet Care Products, Inc. (Sergeant\u2019s), a privately-held, Omaha, Nebraska-based manufacturer of OTC companion animal healthcare products, for approximately $285 million in cash. Perrigo expects to receive a significant tax benefit as a result of the acquisition of Sergeant\u2019s assets. The net present value of this tax benefit is estimated to be approximately $50 million. The acquisition is expected to close during the Company\u2019s fiscal 2013 second quarter pending the satisfaction of closing conditions, including regulatory approvals.<\/p>\n<ul>\n<li><strong><\/strong>Sergeant\u2019s Pet Care Products, Inc., a privately-held OTC animal health company, expands Perrigo\u2019s portfolio to include a new adjacent product category, companion animal healthcare<\/li>\n<li>All cash transaction with a purchase price of $285 million, or $235 million net of certain tax benefits<\/li>\n<li>Sergeant\u2019s expected to generate over $140 million in sales during its fiscal year ending September 30, 2012<\/li>\n<li>Acquisition anticipated to be immediately accretive to earnings and approximately $0.12 accretive to GAAP and $0.20 accretive to adjusted EPS in the first fiscal year post-closing<\/li>\n<li>Expected to be ROIC accretive in the first full fiscal year post-closing<strong> <\/strong><\/li>\n<\/ul>\n<p>Perrigo Chairman and CEO Joseph C. Papa stated, \u201cThis acquisition allows us to penetrate the pet care category by offering numerous flea and tick, health and well-being and consumable products to pet owners at affordable prices. Sergeant\u2019s has a proven record of innovation, high quality manufacturing with great customer service. We welcome Sergeant\u2019s two hundred-plus employees and over one thousand SKU\u2019s to the Perrigo family. This is a first step in executing on our strategy to expand our Consumer Healthcare portfolio into pet care, an adjacency of interest to our retail customers. We are excited to bring quality and value to consumers and their extended families.\u201d<\/p>\n<p><strong>About Perrigo &#8211; PRGO<\/strong><\/p>\n<p>From its beginnings as a packager of generic home remedies in 1887, Allegan, Michigan-based Perrigo Company (PRGO) has grown to become a leading global provider of quality, affordable healthcare products. PRGO develops, manufactures and distributes <a href=\"http:\/\/www.knowfinance.com\/category\/over-the-counter\/\" target=\"_blank\" rel=\"noopener\">over-the-counter<\/a> (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, dietary supplements and active pharmaceutical ingredients (API). PRGO is the world\u2019s largest manufacturer of OTC pharmaceutical products for the store brand market. The Company\u2019s primary markets and locations of logistics operations have evolved over the years to include the United States, Israel, Mexico, the United Kingdom, India, China and Australia.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120915012304\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fperrigo-company-prgo-to-acquire-assets-of-sergeants-pet-care-products%2F34097&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-on-qe3\/34216\">\nStocks End Higher on QE3<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-silver-prices-slip-2\/34215\">\nGold Prices Settle Higher; Silver Prices Slip<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-holding-on-to-gains-in-mid-day-trading-3\/34212\">\nStocks Holding on to Gains in Mid-Day Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/ocean-power-technologies-optt-opt-got-off-to-a-strong-start-in-fiscal-2013\/34192\">\nOcean Power Technologies &#8211; OPTT &#8211; OPT got off to a strong start in fiscal 2013<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/analogic-alog-for-fiscal-2013-we-expect-another-year-of-high-single-digit-organic-revenue-growth\/34193\">\nAnalogic &#8211; ALOG &#8211; For fiscal 2013 we expect another year of high single-digit organic revenue growth<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/heritage-financial-corporation-hfwa-to-acquire-northwest-commercial-bank\/34194\">\nHeritage Financial Corporation &#8211; HFWA &#8211; To Acquire Northwest Commercial Bank<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/full-circle-capital-corporation-full-announces-monthly-distributions-of-0-077-cents-per-share-for-a-total-of-0-231-per-share-for-second-fiscal-quarter-2013\/34195\">\nFull Circle Capital Corporation &#8211; FULL &#8211; Announces Monthly Distributions of $0.077 Cents per Share for a Total of $0.231 Per Share for Second Fiscal Quarter 2013<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20120915012304im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nasdaq: PRGO) announced that it has signed a definitive agreement to acquire substantially all of the assets of Sergeant\u2019s Pet [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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