Perrigo buys Black
into the European brand vitamin market this week, acquiring the
privately-held Peter Black Pharmaceuticals for $13 million.
With annual sales hitting $38 million, Peter Black Pharmaceuticals is currently one the largest manufacturers of store brand vitamin and nutritional supplement products for grocery stores, pharmacies and contract customers in its local market.
The acquisition is the second UK purchase in under two years for the company.
"We first invested in the UK with the acquisition of Wrafton Laboratories in June 2001. With Peter Black, we have taken an important step in becoming one of the UK's largest manufacturers of over-the-counter (non- prescription) pharmaceutical and nutritional products,' said president and CEO of Perrigo David T. Gibbons.
On the home market, earlier last month Perrigo signed a licensing agreement with Sierra Medicinals to manufacture and market the Dr. Steven Rosenblatt brand dietary supplement.
'We recognize that the nutrition marketplace is fast-paced and companies that are the first to bring innovative, effective products to market enjoy a competitive advantage,' commented Scott Sensenbrenner, director of marketing for Perrigo's Nutrition division at the time.
