Two health care companies with deep West Michigan roots are teaming up. Allegan-based Perrigo is acquiring Grand Rapids-based oral self-care product maker Ranir in a deal valued at $750 million.
Ranir makes private label tooth brushes, toothpaste, floss and mouthwash. Perrigo manufactures self-care products and generic pharmaceuticals.
“With the rising cost of health care it’s really important to provide consumers with products that will allow them to take better care of themselves.”
Rich Sorota is Ranir President and CEO. He explains not only are the companies neighbors, but they share the same vision.
“Perrigo very much is making a meaningful transformation into what we call the self-care space against wellness and we’ve been doing this for some time. And if you are following a lot of retailers they’re also looking to say, ‘What can we do to help our customers take better care of themselves and really stay out of going to a doctor’s office and incurring pretty high health care bills.”
Ranir is the global leader in private label oral care products generating net sales of $287 million last year. With Ranir in the fold, Perrigo diversifies its portfolio with new revenue and cash flow.
“So, if we can provide consumers with great value products that can allow them to take better care of their teeth and gums that’s awesome, and Perrigo is looking to do that through broad categories. So, we’re both completely aligned to this mega-trend of self-care.”
Sorota explains 74 million Americans are without dental insurance and there are links between overall health care and oral care. He says a Perrigo/Ranir partnership through its expansion of global presence and innovation benefits cost-conscious consumers investing in self-care products.
Patrick Center, WGVU News.