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Investing.com -- Perrigo said on Monday it has agreed to sell its Dermacosmetics business to Kairos Bidco, an investment vehicle backed by KKR, for up to €327 million as part of its strategy to streamline its portfolio.
The deal includes €300 million in upfront cash payment and up to €27 million in milestone payments over a three-year period, according to the terms of the agreement.
The Dermacosmetics unit includes several brands such as ACO, Biodermal, Emolium and Iwostin.
The business generated net sales of approximately €125 million in 2024.
Perrigo plans to use the proceeds from the transaction for capital allocation priorities, including strengthening its balance sheet.
The transaction is expected to close in the first quarter of 2026.
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