Perrigo Subsidiary Ranir Announces Acquisition of Steripod® Toothbrush Accessory Brand
GRAND RAPIDS, Mich. - January 6, 2020 — Ranir, LLC, a Perrigo Company plc (NYSE;TASE: PRGO) subsidiary and leading global manufacturer of store brand and value brand oral care products under the Plackers® and REMBRANDT® trademarks, today announced it has acquired the oral care assets of Culver City, California-based Steripod, a leading toothbrush accessory brand and innovator in the toothbrush protector market. Terms of the deal were not disclosed.
The deal includes Steripod’s portfolio of toothbrush protectors, kids’ products and tongue cleaners.
The acquisition of Steripod strongly complements Ranir’s current portfolio of oral care products and represents opportunities for growth, allowing Ranir to leverage its innovation platform in the development, manufacture and marketing of store brand oral care products. The combined organization will feature an innovative product line dedicated to advancing the self-care mega-trend through enhanced retail relationships and a broader distribution network that offers increased international and ancillary market exposure.
“I am pleased to announce an acquisition that we believe advances Ranir’s mission and further enhances a strategic growth platform that has proven to provide consumers with access to quality, affordable oral health solutions,” said Rich Sorota, president and chief executive officer of Ranir. “Steripod is a leading innovator in the toothbrush protector category. This acquisition fits nicely within our model of pursuing attractive growth opportunities that advance our position as leaders in oral self-care. Our organizations are jointly dedicated to ensuring customer health and safety through innovative products, and we are better positioned than ever to execute on our commitment to ‘Delivering Millions of Affordable, Healthy Smiles’ every day.”
“I’m delighted that Steripod products are going to be part of the Ranir portfolio of oral care products,” said Paul Krok, Steripod’s Founder and Chief Executive Officer. “I’ve always viewed Ranir as a leader in the oral care category and I am excited to see what the company will accomplish with this brand.”
Ranir will integrate Steripod’s oral care line into its existing portfolio and, over time, expects the acquisition to result in profitable revenue growth through innovation, adjacent product category expansion and targeted geographic growth.
Steripod is currently available at major retailers nationwide including Bed, Bath & Beyond, CVS, Target, Walgreens and Walmart, or online at Amazon or GetSteripod.com.
D.A Davidson served as the financial advisor and Buchalter served as legal counsel to Steripod. Warner Norcross + Judd LLP served as legal counsel to Ranir.
About Perrigo Company plc
Perrigo Company plc (NYSE; TASE: PRGO) is dedicated to making lives better by bringing "Quality, Affordable Self-care Products™" that consumers trust everywhere they are sold. The Company is a leading provider of over-the-counter health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Visit Perrigo online at http://www.perrigo.com.
Ranir, a subsidiary of Perrigo Company plc (NYSE;TASE: PRGO), is a leading global manufacturer of store brand private label consumer oral care products including power and manual toothbrushes, toothbrush protectors, teeth whiteners, dental floss, flossers and interdental brushes. Its products, which include some of the world’s largest oral care store brands, can be found at major retailers in more than 50 countries. Ranir is dedicated to advancing Perrigo’s mission within the oral care segment to make lives better with “Quality, Affordable Self-care Products™” that consumers trust everywhere they are sold.
Developed by doctors and independently tested for efficacy at an accredited lab, Steripod is a clip-on protector that fits any standard or electronic toothbrush. Each Steripod contains thymol – found in many mouthwashes and oral antiseptics – and a patented design to help keep your toothbrush fresh and clean for up to three months. Simply clip it on your electric or manual toothbrush and it goes to work; no cables or batteries are needed. You can use it at home, work, the gym, school or when your travel. Learn more at GetSteripod.com. Follow Steripod on Facebook, Twitter and Instagram.
Certain statements in this press release are “forward-looking statements.” These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “forecast,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential” or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, including: the timing, amount and cost of any share repurchases; future impairment charges; the success of management transition; customer acceptance of new products; competition from other industry participants, some of whom have greater marketing resources or larger market shares in certain product categories than the Company does; pricing pressures from customers and consumers; resolution of uncertain tax positions, including the Company’s appeal of the Notice of Assessment (the “NoA”) issued by the Irish tax authority and the draft and final Notices of Proposed Assessment (“NOPAs”) issued by the U.S. Internal Revenue Service and the impact that an adverse result in any such proceedings would have on operating results, cash flows, and liquidity; potential third-party claims and litigation, including litigation relating to the Company’s restatement of previously-filed financial information and litigation relating to uncertain tax positions, including the NoA and the NOPAs; potential impacts of ongoing or future government investigations and regulatory initiatives; potential costs and reputational impact of product recalls or sales halts; the impact of tax reform legislation and healthcare policy; general economic conditions; fluctuations in currency exchange rates and interest rates; the consummation of announced acquisitions or dispositions and the success of such transactions, and the Company’s ability to realize the desired benefits thereof; and the Company’s ability to execute and achieve the desired benefits of announced cost-reduction efforts and strategic and other initiatives. Statements regarding the separation of the RX business, including the expected benefits, anticipated timing, form of any such separation and whether the separation ultimately occurs, are all subject to various risks and uncertainties, including future financial and operating results, our ability to separate the business, the effect of existing interdependencies with our manufacturing and shared service operations, and the tax consequences of the planned separation to the Company or its shareholders. Furthermore, the Company may incur additional tax liabilities in respect of 2016 and prior years or be found to have breached certain provisions of Irish company law in connection with the Company’s restatement of previously-filed financial statements, which may result in additional expenses and penalties. These and other important factors, including those discussed under “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2018, as well as the Company’s subsequent filings with the United States Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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