Perrigo To Sell Infant Formula Business To MeridianMade For Up To $175M; Co To Refocus On Consumer Self-Care Products

• Advances Streamline pillar of Perrigo's Three-S plan through portfolio simplification
• Furthers Perrigo's evolution into a simpler, more focused consumer self-care company
• Expected to enhance Perrigo's margin profile and eliminate significant expected future capital expenditures
• Aligns reported results more closely with the financial profile of Core Perrigo
• MeridianMade's infant-grade, American manufacturing infrastructure and operating capabilities will support the continued supply of safe, high-quality, and affordable infant nutrition

DUBLIN, Oct. 29, 2026 /PRNewswire/ -- Perrigo Company plc (NYSE:PRGO) ("Perrigo" or "the Company"), a leading provider of consumer self-care products, today announced that it has entered into a definitive agreement pursuant to which MeridianMade, an American contract manufacturing platform dedicated to infant nutrition, will acquire Perrigo's Infant Formula business for total consideration of up to $175 million. The transaction consists of $40 million in cash at closing and up to an additional $135 million contingent on the achievement of future performance milestones through 2030.

This divestiture advances Perrigo's evolution into a more focused consumer self-care company with a diversified portfolio of OTC products addressing essential, everyday health needs. The agreement follows a comprehensive review of strategic alternatives for the Infant Formula business and reflects careful consideration of the best path forward for the business and its stakeholders. MeridianMade is a company built entirely around infant nutrition with a singular focus on providing safe, high-quality formula to families and caregivers, with the infant-grade, domestic infrastructure and operating capabilities to support that aim.