Generic drug maker Perrigo Co. (PRGO) announced that it has closed the acquisition of Velcera Inc., Yardley, Pennsylvania based pet health products company, for approximately $160 million in cash.
Velcera sales for calendar year 2012 were approximately $60 million.
In fiscal 2013, Velcera is expected to be slightly accretive to adjusted earnings per share and slightly dilutive to GAAP earnings per share after the inclusion of intangible amortization, transaction and integration related expenses.
In fiscal 2014, Velcera is expected to be $0.11 accretive to adjusted earnings per share and neutral to marginally dilutive to GAAP earnings per share after the inclusion of intangible amortization, transaction and integration related expenses. The transaction is expected to be ROIC accretive in fiscal 2015.
In February 2013, Perrigo had agreed to acquire Velcera Inc. (VLCR.OB), a pet health products company, for $160 million in cash.
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