Combines Two Consumer-Focused Self-Care Companies Dedicated to Meeting Customer Needs; Expands Ability to Deliver Millions of Affordable Healthy Smiles Worldwide
Ranir, LLC, a leading global manufacturer of store brand and value brand oral care products under the Plackers® and REMBRANDT® trademarks, today announced it has entered into a definitive agreement to be acquired by Perrigo Company plc (NYSE; TASE: PRGO), a leading global provider of Quality, Affordable Self-Care Products™ for $750 million.
As a global leader in the store brand oral care market, Ranir's innovative technology spans consumer brands and private label products, including power and manual toothbrushes, teeth whiteners, dental floss, flossers and interdental brushes. Founded in 1979, Ranir's original mission was to provide its retail partners with store brand dental floss, and soon thereafter, manual toothbrushes. The company quickly grew to become the leader in both categories and later expanded offerings to include teeth whitening products, power toothbrushes and other oral healthcare products. Ranir's corporate headquarters in Grand Rapids, Michigan, houses its primary manufacturing facilities, which are designed to meet future growth. Perrigo's North American base of operations is also located in West Michigan, with facilities in Allegan, Michigan.
Ranir has achieved substantial growth organically and through strategic acquisitions that extended the company's distribution network, enhanced its new product pipeline and expanded its geographic footprint. Perrigo's acquisition of Ranir brings together two similar organizations to progress these shared goals.
Ranir's manufacturing expertise and focus on consumer and customer-driven product innovation had broadened the company's purpose to provide access to affordable oral self-care with store brand products that offer exceptional quality and value.
"Affordable self-care has never been more important as we face ever-increasing healthcare costs," said Rich Sorota, president and chief executive officer of Ranir. "We've worked hard over the past several years to execute a comprehensive growth plan to advance our purpose of 'Delivering Millions of Affordable, Healthy Smiles' every day. As part of this plan, we are taking the next step in our transformation, while remaining fully committed to our heritage and values. Our two companies are immensely complementary and aligned in our greater purpose and mission. Our combined talents, scale, global presence, innovation, and understanding of self-care will help support not only our local communities, but also our suppliers, retail partners and their consumers. This ultimately enables us to better pursue our purpose worldwide."
Perrigo President and CEO Murray S. Kessler commented, "The addition of Ranir to the Perrigo family illustrates a key component of our new strategy; accelerating growth by pursuing adjacent self-care categories. I can't emphasize enough the opportunity we believe that exists by combining these two companies that are so closely aligned. This is highlighted by their geographic proximity, scale in store brands, leading market shares, strong and complementary customer relationships, a focus on quality, similar company cultures and a shared belief in the opportunity presented by the self-care mega-trend. We expect this strategic combination will enhance shareholder value."
William Blair & Company, L.L.C. acted as the exclusive financial advisor for Ranir on the transaction. Kirkland & Ellis LLP acted as legal advisor to Ranir.
Perrigo received legal advice from Morgan, Lewis & Bockius.
Ranir products can be found anywhere oral care products are sold including more than 150,000 store front and online retailers in more than 50 countries. The company employs more than 650 people worldwide and has proprietary and patented products, as well as a growing portfolio of consumer brands.
Ranir , LLC ， Plackers ®和 REMBRANDT ®商标下的全球领先的商店品牌和价值品牌口腔护理产品制造商，今天宣布已达成最终协议，由 Perrigo Company plc ( NYSE ; TASE : PRGO )以7.5亿美元收购。 Perrigo Company plc 是全球领先的优质、可负担得起的自助护理产品供应商。
作为全球领先的商店品牌口腔护理市场， Ranir 的创新技术跨越消费者品牌和私人标签产品，包括动力和手动牙刷，牙齿美白，牙刷，牙刷和牙刷。成立于1979年， Ranir 的最初使命是为其零售合作伙伴提供商店品牌的牙线，并不久之后，手工牙刷。该公司迅速成长为两个类别的领导者，后来扩大了产品范围，包括牙齿美白产品，电动牙刷和其他口腔保健产品。Ranir 的公司总部位于密歇根州的 GrandRapids ，拥有主要的生产设施，旨在满足未来的增长。Perrigo 的北美业务基地也位于西密歇根，在密歇根州的 Allegan 设有工厂。
Ranir 已经实现了实质性的有机增长，并通过战略收购扩展了公司的分销网络，增强了其新产品渠道和扩大其地理足迹。Perrigo 收购 Ranir 使两个类似的组织共同实现了这些共同目标。
Ranir 公司总裁兼首席执行官 RichSorota 说：“由于我们面临不断增加的医疗成本，负担得起的自我照顾从来没有变得更加重要。”“在过去几年里，我们一直在努力执行一项全面的增长计划，以推进我们的目标，即每天提供数百万可负担得起、健康的微笑。”作为这项计划的一部分，我们正在采取我们转型的下一步，同时继续充分致力于我们的遗产和价值。我们两家公司在更大的目标和使命上有着巨大的互补性和一致性。我们的人才、规模、全球影响力、创新和对自助服务的理解将不仅有助于支持我们的当地社区，还有助于支持我们的供应商、零售合作伙伴及其消费者。这最终使我们能够更好地在全世界追求我们的目标。”
Perrigo 总裁兼首席执行官 Murray S.Kessler 评论道：“ Ranir 加入 Perrigo 家族，说明了我们新战略的一个关键组成部分：通过追求邻近的自我护理类别，加速增长。我不能充分强调通过合并这两家公司而存在的机会。这一点从他们的地理位置接近、商店品牌的规模、领先的市场份额、强大的和互补的客户关系、对质量的关注、相似的公司文化以及对自我保健的巨大趋势所带来的机会的共同信念中得到突出。我们预计这一战略组合将提升股东价值。”
William Blair & Company , L.L.C .担任 Ranir 本次交易的独家财务顾问。Kirkland & Ellis LLP 担任 Ranir 的法律顾问。
Perrigo 从 Morgan , Lewis & Bockius 获得法律咨询。