Perrigo Company has agreed to acquire Georgia-based, Geiss, Destin & Dunn (GDD), a national distributor of over-the-counter healthcare and consumer goods products.
The small acquisition is intended to diversify Perrigo's U.S. distribution and retail network, providing direct access to the non-mass retail market.
Perrigo has been unable to recover from its slump after refusing takeover attempts from generic manufacturer, Mylan last year. Analysts suggest that Perrigo management should resort to an acquire-to-expand strategy to boost its high growth assets.
Read the Perrigo press release