Perrigo Company’s $2.1 Billion Acquisition of HRA Pharma

Wachtell, Lipton, Rosen & Katz and Darrois Villey Maillot Brochier advise Perrigo, while Latham & Watkins served as the selling shareholders’ legal counsel and Dechert, as counsel to HRA management.

Perrigo Company plc (NYSE, TASE: PRGO) has signed a binding offer to acquire Héra SAS (“HRA” or “HRA Pharma”), a leading global consumer self-care company, from funds affiliated with private equity firm Astorg and Goldman Sachs Asset Management. The transaction is valued at €1.8 billion, or approximately $2.1 billion in cash.

HRA is one of the fastest growing over-the-counter (“OTC”) companies globally, with three category-leading self-care brands in blister care (Compeed®), women’s health (ellaOne®) and scar care (Mederma®). This scale acquisition would complete Perrigo’s transformation to a global leader in consumer self-care, bolster its presence in high-potential European markets and meaningfully improve its already strong operational and financial profile.

Perrigo Company plc is a leading provider of Quality, Affordable Self-Care Products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed.

Centerview Partners is serving as financial advisor to Perrigo. Sawaya Partners, Goldman Sachs Investment Banking Division and Rothschild & Co. are serving as financial advisors to the selling shareholders.

Wachtell Lipton’s team was led by Partners Igor Kirman (Picture), Victor Goldfeld and included
Eric M. Feinstein, Associate, Nathaniel R. Ludewig, Associate, Yasmina Abdel-Malek, Associate (Corporate), Ian Boczko, Partner (Litigation), Franco Castelli, Counsel (Antitrust), Michael J. Schobel, Partner, Dixing Tang, Associate (Executive Compensation and Benefits), Michael S. Benn, Partner, Rod N. Ghods, Associate (Finance), T. Eiko Stange, Partner, Tijana J. Dvornic, Partner, and Liam N. Murphy, Associate (Tax).

The Dechert team was led by corporate partner Ross Allardice and associate Tony Brown and included national partner Delphin Boucher, associates Ruth Taylor and Daniel Mansfield, Gottfried Graf von Bassewitz and Sonja Feser; litigation national partner Sophie Pelé and associates Jessica Garestier and Craig Watson; life sciences associate Margaux Lasseigne; clerk Yan Boistay; and labor national partner Thibault Meiers and associate Viviane Valilou.

The Latham & Watkins team included Thomas Forschbach, Alexander Crosthwaite, David Chatteleyn, Xavier Renard, Jacques-Philippe Gunther, Mathilde Ayel, Laure Maes, Farrell Malon, Andrew Paik, Matthias Rubner.

Involved fees earner: Ross Allardice – Dechert; Delphin Boucher – Dechert; Tony Brown – Dechert; Sonja Feser – Dechert; Jessica Garestier – Dechert; Gottfried Graf von Bassewitz – Dechert; Margaux Lasseigne – Dechert; Daniel Mansfield – Dechert; Thibault Meiers – Dechert; Sophie Pelé – Dechert; Ruth Taylor – Dechert; Viviane Valilou – Dechert; Craig Watson – Dechert; Mathilde Ayel – Latham & Watkins; David Chatteleyn – Latham & Watkins; Alexander Crosthwaite – Latham & Watkins; Thomas Forschbach – Latham & Watkins; Jacques-Philippe Gunther – Latham & Watkins; Laure Maes – Latham & Watkins; Farrell Malone – Latham & Watkins; Seung Wan Paik – Latham & Watkins; Xavier Renard – Latham & Watkins; Matthias Rubner – Latham & Watkins; Yasmina Abdel-Malek – Wachtell, Lipton, Rosen & Katz; Michael Benn – Wachtell, Lipton, Rosen & Katz; Ian Boczko – Wachtell, Lipton, Rosen & Katz; Franco Castelli – Wachtell, Lipton, Rosen & Katz; Tijana Dvornic – Wachtell, Lipton, Rosen & Katz; Eric Feinstein – Wachtell, Lipton, Rosen & Katz; Rod Ghods – Wachtell, Lipton, Rosen & Katz; Victor Goldfeld – Wachtell, Lipton, Rosen & Katz; Igor Kirman – Wachtell, Lipton, Rosen & Katz; Nathaniel Ludewig – Wachtell, Lipton, Rosen & Katz; Liam Murphy – Wachtell, Lipton, Rosen & Katz; Michael Schobel – Wachtell, Lipton, Rosen & Katz; Eiko Stange – Wachtell, Lipton, Rosen & Katz; Dixing Tang – Wachtell, Lipton, Rosen & Katz;

Law Firms: Dechert; Latham & Watkins; Wachtell, Lipton, Rosen & Katz;

Clients: Astorg Partners; Goldman Sachs Asset Management; HRA Pharma; Perrigo Company plc;

Author: Naoual Sadouqi

Leave a Reply