Perrigo Company, an American Irish–registered manufacturer of private label over-the-counter pharmaceuticals, agreed to acquire the infant formula plant in Eau Claire, Wisconsin from Nestle, a Swiss multinational food and drink processing conglomerate, for $170m. "Long before this year's infant formula shortage, we had been pursuing options to increase capacity to meet growing demand for our infant formula in the US. But this year's industry shortage galvanized our commitment to not only invest to meet the demand for our store brand and contract customers, but also to help prevent future infant formula shortages. The purchase and expansion of Gateway is the first major initiative in our recently announced Supply Chain Reinvention program. It solidifies our long-term manufacturing supply of infant formula in the US, increases the availability of lower priced, high-quality infant formula to consumers, and delivers value to Perrigo shareholders," Murray Kessler, Perrigo President and CEO.