MEXICO CITY, March 10, 2022 – Advent International, one of the world’s largest and most experienced private equity investors, today announced that it has completed the acquisition of Perrigo Company plc’s Mexico- and Brazil-based pharmaceutical businesses (“Perrigo Latin America”). With this transaction, Advent builds on its regional investment strategy in the pharmaceutical sector where the firm has more than two decades of experience.

Perrigo Company plc (NYSE: PRGO) is a leading provider of quality, affordable self-care products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. The companies that make up Perrigo Latin America have been operating for over 80 years and uphold the highest standards of quality and product safety. They specialize in the manufacture and marketing of branded generic pharmaceuticals, as well as the development of private-label products.

Advent International has invested US$7.7 billion in more than 70 companies across Latin America, including several businesses dedicated specifically to the development and distribution of pharmaceutical products. Its investments in the sector regionally have included Grupo Farmacéutico Somar, a branded generic drug manufacturer in Mexico; Grupo Biotoscana (South America), Laboratorios LKM (Argentina); and Fada Pharma (Argentina).

“We are excited to continue playing a role in the evolution of the pharmaceutical industry in Mexico and Latin America,” said Ariel Blumenkranc, Head of Advent International in Mexico. “With this investment, we will significantly increase our presence in the branded generics segment, while expanding our technological capabilities in a key, high-growth sector.”

Advent International has been present in Mexico since 1996 and has been committed to the economic development of the country and the region for over 25 years. During this time, it has invested approximately US$1.6 billion in more than 20 companies with headquarters or operations in Mexico and has helped these businesses accelerate their growth by applying its deep sector expertise, international network and world-class operating resources.