Ranir has a new owner -- Perrigo Company, a leading provider of over-the-counter health and wellness solutions.
Ranir, a leading manufacturer of store brand private label oral care products and the owner of Plackers and Rembrandt brands, has announced it has entered into definitive agreement to be acquired by Perrigo for $750 million.
Perrigo's acquisition of Ranir brings together two similar organizations.
Ranir's corporate headquarters in Grand Rapids, Michigan houses its primary manufacturing facilities. Perrigo's North American base of operations is also located in West Michigan, with facilities in Allegan, Michigan.
Ranir's innovative technology spans consumer brands and private label products, including power and manual toothbrushes, teeth whiteners, dental floss, and flossers. 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.
Rich Sorota, president and chief executive officer of Ranir, comments, "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."
Murray S. Kessler, president and CEO, Perrigo, adds, "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."
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.
Photo: via Ranir.com