Perrigo Partners With Ferrara Candy Company To Enter $625 Million Gummy Vitamins And Dietary Supplement Market
DUBLIN and OAKBROOK TERRACE, Ill., Jan. 12, 2015 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO; TASE), and Ferrara Candy Company, Inc. ("Ferrara"), announced today that Perrigo's Nutritionals division has signed a supply agreement with Ferrara to manufacture store brand gummy vitamins and dietary supplements to be sold at leading retailers across the United States. The five-year supply agreement gives Perrigo exclusivity on a full line of store brand gummy vitamin, mineral, and supplement products using Ferrara's gummy technology and manufacturing capabilities. Perrigo's extensive expertise in vitamin and dietary supplement formulation, quality assurance, and safety testing will be combined with Ferrara's manufacturing capabilities and non-stick gummy technology, which excels in gummy taste, texture and packaging. In addition to being suitable for vitamins and dietary supplements, Ferrara's gummy technology has the potential for other over-the-counter (OTC) products as well.
Perrigo's Chairman and CEO, Joseph C. Papa stated, "We are excited to announce the addition of a full assortment of children's and adult multivitamins, calcium, fiber, heart health and letter vitamins to our store brand portfolio. This strategic supplier relationship extends our company's reach into a financially attractive and expansive gummy market. We look forward to working with Ferrara and are excited to launch new products into this growing nutritional category."
According to IRI multi-outlet data, sales of vitamin and dietary supplement gummies were $625 million and are forecasted to reach $1 billion by 2017.
"We are pleased to partner with Perrigo as we extend the strength of Ferrara's manufacturing capabilities and technologies into a new, growing market," said Todd Siwak, CEO of Ferrara. "Healthy living has become a bigger focus for more and more Americans, and the application of our gummy technology to vitamins and dietary supplements is another example of Ferrara evolving its offerings to capitalize on this trend. Ferrara has a long history of strong strategic private label and co-manufacturing relationships, and we are confident that our partnership with Perrigo will also be a success."
Ferrara is one of the world's leading gummy manufacturers with significant operational capabilities and procurement scale. Perrigo's line of store brand gummies will be manufactured by Ferrara in its state-of-the art facility in Bellwood, Illinois. The facility meets numerous quality and safety certifications, including SQF. Ferrara's facility is in close proximity to Perrigo's distribution facility in Allegan, Michigan, which will create unique supply chain efficiencies.
About Ferrara Candy Company, Inc.
Headquartered in Oakbrook Terrace, Ill., Ferrara Candy Company is a leading general line candy manufacturer, created by the merger of Ferrara Pan Candy Company, Inc. and Farley's & Sathers Candy Company, Inc. in 2012. The Company manufactures a robust portfolio of branded and private label confections that consumers love. For more information, please visit the company's website, www.ferrarausa.com.
About Perrigo Company plc
From its beginnings as a packager of generic home remedies in 1887, Perrigo Company plc, headquartered in Ireland, has grown to become a leading global healthcare supplier. Perrigo develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, nutritional products and active pharmaceutical ingredients (API), and receives royalties from Multiple Sclerosis drug Tysabri®. The Company is the world's largest manufacturer of OTC healthcare products for the store brand market and an industry leader in pharmaceutical technologies. Perrigo's mission is to offer uncompromised "Quality Affordable Healthcare Products®" and it does so across a wide variety of product categories primarily in the United States, United Kingdom, Mexico, Israel and Australia, as well as more than 40 other key markets worldwide, including Canada, China and Latin America. Visit Perrigo on the Internet (http://www.perrigo.com).
Note: Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended June 28, 2014, as well as the Company's subsequent filings with the Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Perrigo Company plc
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