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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 9, 1999
PERRIGO COMPANY
(Exact name of registrant as specified in charter)
MICHIGAN 0-19725 38-2799573
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(State of other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification
Incorporation) Number)
515 Eastern Avenue, Allegan, Michigan 49010
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(616) 673-8451
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ITEM 5. Other Events
The Perrigo Company announced it has sold its personal care business,
which supplies store brand items such as mouthwash, hair care products, baby
care products, rubbing alcohol and skin and sun care products to national and
regional supermarket, drugstore and mass merchandise chains.
Cumberland Swan Holdings, Inc., an investor group located in Nashville,
Tennessee, has purchased Perrigo's Smyrna, Tennessee operations. Terms were not
disclosed. In addition, the Company stated that in separate transactions it sold
its personal care facilities in California and Missouri for $9 million. With
these sales, Perrigo will record a pre-tax charge of $3.2 million ($.03 per
share after-tax) relating to the write-down of personal care assets in the
fourth quarter of fiscal year 1999.
The Company noted that its LaVergne, Tennessee logistics center is not
included in the sale. Cumberland Swan will operate out of the facility under a
lease agreement until the building is sold separately, at which time Cumberland
Swan will lease from the new owner.
With the completion of the sale of the personal care business, Craig
Hammond, President of Perrigo International, who played a key role in the
personal care divestiture, has left Perrigo Company. Mark Olesnavage, President
of Customer Business Development, will assume responsibility for the
International Department.
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SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PERRIGO COMPANY
(Registrant)
By: /s/Thomas J. Ross
Dated: September 9, 1999 -----------------------
Thomas J. Ross
Vice President-Finance
