Perrigo to offload dermacosmetics arm to KKR in €327m deal

Perrigo is sharpening its focus on core self-care categories with a €327m divestment of its dermacosmetics business to private equity giant KKR. The Dublin-headquartered, NYSE-listed firm will receive €300m in upfront cash and up to €27m in performance-based milestones over the next three years.

KKR, acquiring through its Core Private Equity strategy, adds brands like ACO, Emolium, and Iwostin to its expanding health and beauty portfolio, reinforcing its long-term bet on resilient consumer wellness platforms.

For Perrigo, the move is part of its ‘Three-S’ strategy—Stabilise, Streamline and Strengthen—allowing it to redirect proceeds toward high-growth, high-return segments within its One Perrigo model and continue delivering shareholder value.

See the full story behind Perrigo’s strategic pivot and what’s next.