At what enterprise value was HRA PHARMA acquired in 2021?

During the acquisition of HRA PHARMA by PERRIGO COMPANY in 2021, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Healthcare & Pharma industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of HRA PHARMA when it was acquired by PERRIGO COMPANY?

The estimated EV/EBITDA multiple for HRA PHARMA is in the range of 15x - 25x. For comparison, the Healthcare & Pharma sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was HRA PHARMA acquired by PERRIGO COMPANY?

HRA PHARMA was acquired by PERRIGO COMPANY in 2021.

What was the revenue of HRA PHARMA at the time of the deal?

The revenue of HRA PHARMA at the time of the deal is estimated to be in the range of 250M - 500M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of HRA PHARMA during the acquisition?

HRA PHARMA's EBITDA is estimated to be in the range of 100M - 200M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the HRA PHARMA acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the HRA PHARMA deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://investor.perrigo.com/2021-09-08-Perrigo-to-Acquire-Leading-Consumer-Self-Care-Company,-HRA-Pharma

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Home Database Healthcare & PharmaHRA PHARMA

09/2021

HRA PHARMA acquired by PERRIGO COMPANY

FRANCE Life Sciences / Pharma & Biotech / Generics / Labs EV 1b - 4b EUR

Context

The acquisition of HRA Pharma by Perrigo signifies the "crowning achievement" of the acquirer’s structural transformation into a pure-play consumer self-care leader. The strategic rationale for this transaction centers on a "portfolio-premium" maneuver, merging the target’s high-growth, margin-accretive branded assets with the acquirer’s massive expert direct go-to-market platform. This structural alignment provides the organization with the scientific talent and regulatory hardware necessary to dominate high-potential European markets and accelerate the "Rx-to-OTC" pipeline globally. This maneuver allows the group to execute a definitive structural expansion of its global footprint, particularly by adding significant scale in key underpenetrated European regions where the target maintains a dominant leadership position. By incorporating the target's seasoned leadership team and its expertise in specialized categories like emergency contraception and blister care, the organization is now positioned to leverage its recognized manufacturing depth to drive deeper penetration into adjacent self-care categories.

As a reminder, the company was previously involved in a leveraged buyout led by Astorg / Goldman Sachs in 2016.

HRA PHARMA, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Healthcare & Pharma sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

HRA Pharma is a high-growth, innovative consumer healthcare organization that thrives on a philosophy of empowering individuals through accessible, value-added self-care solutions. The organization operates as a specialist in the development and marketing of market-leading brands across three core technical domains: women's health, blister care, and scar care. A primary pillar of its strategy is the "Rx-to-OTC" switch expertise, a sophisticated regulatory and commercial process that transitions prescription-only medications into the non-prescription retail landscape.

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Other operations with HRA PHARMA

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
02/2016	ASTORG / GOLDMAN SACHS	HRA PHARMA	FRANCE	Life Sciences	Astorg and Goldman Sachs have completed the acquisition of HRA Pharma, signaling a major professionalization phase for the niche pharmaceutical laboratory. The strategic rationale for this transaction hinges on an "international-acceleration" maneuver, merging the target’s technical operational depth in hormonal health with the sponsors’ massive global network and institutional resources. This structural alignment provides the organization with the strategic hardware and capital necessary to target aggressive expansion into the United States and other high-potential global markets. The move specifically leverages the target's unique Rx-to-OTC switch prowess, a high-barrier technical capability that transforms clinical assets into scalable consumer brands. By incorporating the sponsors' strategic discipline, the group is now positioned to pivot from a European-centric leader to a global champion in the women’s health segment.

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of HRA PHARMA by PERRIGO COMPANY are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).