Perrigo to buy Wrafton of the UK

The USA's Perrigo has signed an agreement to purchase WraftonLaboratories of the UK, a contract manufacturer of over-the-counter pharmaceuticals and supplier of store-brand products to pharmacy retailers, for $44 million. A subsidiary of the McBride group, Wrafton Laboratories is based in North Devon, and has trailing 12-month sales of approximately $37 million. The transaction is expected to close within a month.

Perrigo's chief executive, David Gibbons, said the firm is pleased to have acquired a company that has manufacturing and packaging capabilities in the UK, adding that its broad production expertise, "including the ability to manufacture tablets, liquids, powders and creams," will have a positive impact on Perrigo's earnings during its first year.