Perrigo to Divest Infant Formula Business in $175 Million Deal

10:28 AM EDT, 10/29/2026 (MT Newswires) -- Perrigo (PRGO) said Thursday it will divest its infant formula business to MeridianMade in a deal worth up to $175 million. The agreement comprises $40 million in cash at closing and up to $135 million contingent on the achievement of future performance milestones through 2030, according to a statement. MeridianMade is a US-based contract manufacturing platform focused on infant nutrition. The transaction is expected to close in the first half of 2027, according to the company. Price: 15.99, Change: +0.07, Percent Change: +0.41