Perrigo agrees infant-formula disposal with most proceeds dependent on milestones
Perrigo ($PRGO) agreed to sell its infant-formula business to MeridianMade for up to $175 million. Only $40 million is payable in cash at closing; the remaining $135 million depends on performance milestones through 2030. Completion is expected in the first half of 2027, subject to regulatory approvals and customary conditions. Perrigo will continue owning and operating the business until the transaction closes. The unit generated $380 million in sales and $8 million in adjusted operating income
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