Advent International completed the acquisition of the Mexico and Brazil-based over-the-counter unit of Perrigo Company.

Private equity firm Advent International completed the acquisition of the Mexico and Brazil-based over-the-counter unit of Perrigo Company, an American Irish–registered manufacturer of private label over-the-counter pharmaceuticals. Financial terms were not disclosed. "After a thorough review, we concluded Perrigo does not have sufficient scale in its Latin American businesses, which are dilutive to the Company's '3/5/7' growth algorithm. As the path to improving margins in these regions would be further dilutive for the foreseeable future, the decision was made to exit these businesses. We are pleased to have reached an agreement with Advent and look forward to ensuring a seamless transition. We thank all the Mexico and Brazil-based employees for their service to Perrigo and are confident the businesses will do well under Advent's ownership as these are key areas of focus for their company," Murray S. Kessler, Perrigo CEO and President.