Press release from PR Newswire
Perrigo Acquisition Of Velcera, Inc. -- Known For Its PetArmor® Franchise Of Flea And Tick Treatments -- Closes Today
Monday, April 01, 2013
Perrigo Acquisition Of Velcera, Inc. -- Known For Its PetArmor® Franchise Of Flea And Tick Treatments -- Closes Today10:49 EDT Monday, April 01, 2013
YARDLEY, Pa., April 1, 2013 /PRNewswire/ -- The sale of privately-held Velcera, Inc. ("Velcera") ? a leading pet health company committed to providing consumers with best-in-class pet health products that contain the same active ingredients as branded veterinary products but at a significantly lower cost ? to Allegan-Mich.-based Perrigo Company (Nasdaq: PRGO; TASE) closed today for approximately $160 million in cash.
Velcera and its FidoPharm subsidiary is best known for its flea and tick treatment PetArmor®, which is the No. 1 generic of Frontline® Top Spot containing the No. 1 vet-recommended active ingredient for flea and tick protection. PetArmor® is backed by 20 clinical trials to prove its effectiveness and safety. PetArmor's® money-back "Protection Guarantee" promises to protect your dog or cat as well as Frontline® products or PetArmor® will refund the purchase price.
Velcera, together with major retail partners, has been instrumental in developing an OTC market for pet health products traditionally dispensed primarily by veterinarians. Retail sales of the PetArmor® franchise exceeded $100 million during calendar year 2012, the value-brand's first full year on the market, having launched in April 2011.
Under Perrigo, the PetArmor® franchise brand will continue to enjoy the same broad distribution at retailers nationwide that pet consumers have come to expect since PetArmor® launched two years ago.
"The extraordinary synergies between Velcera and Perrigo means that even more pet owners can receive best-in-class pet health products," said Dennis Steadman, Velcera's president and CEO.
To learn more about PetArmor®, visit www.PetArmor.comFacebook: Facebook.com/PetArmorTwitter: Twitter.com/PetArmorYouTube: Youtube.com/PetArmor
Frontline® is the registered trademark of Merial Frontline® and Merial are not affiliated with PetArmor®
For further information: Mark Newman, 212-679-6600, email@example.com