BALTIMORE, MARYLAND — July 1, 2019 — Camden Partners is pleased to announce Ranir, LLC, a Camden Partners portfolio company, has been acquired by Perrigo Company plc (NYSE: PRGO), a leading global provider of Quality, Affordable Self-Care Products™ for $750 million.
Founded in 1979, Ranir is a leading global manufacturer of private label and value brand oral care products under the Plackers® and REMBRANDT® trademarks. The company’s innovative technology spans consumer brands and private label products, including power and manual toothbrushes, teeth whiteners, dental floss, flossers and interdental brushes. Ranir’s manufacturing expertise and focus on consumer and customer-driven product innovation has broadened the company’s purpose to provide access to affordable oral self-care with store brand products that offer exceptional quality and value.
Camden and KVG Partners co-led a leveraged buyout transaction in 2008 gaining controlling interest in Ranir. Since then Ranir has achieved substantial organic growth and through five strategic acquisitions that extended the company’s distribution network, enhanced its new product pipeline and expanded its geographic footprint. Recently Ranir received CVS Health’s “Outstanding Partner for Store Brand” Award which spotlights partners that go above and beyond by demonstrating best practices and excellence related to store branded products. Perrigo’s acquisition of Ranir brings together two complimentary and strongly aligned companies, providing an opportunity to further extend their reach worldwide.
Camden Partners’ Partner and Co-Founder, David Warnock, and Jason Tagler, Partner, worked on the initial leveraged buyout transaction. Jason Tagler served as Chairman of the Audit Committee until 2015 when Todd Sherman, Partner, joined the board and became Chairman of the Audit Committee. Operating Partner, Richelle Parham, also served on the Board of Directors, with David Warnock serving as Chairman of the Board. Rich Sorota is the President and CEO of Ranir.
“Camden’s relationship with Ranir has been one of the most rewarding ever on several levels. We are grateful for the hard work that the management team led by Rich Sorota put in,” said David Warnock.
“Ranir has been on an amazing journey delivering millions of affordable, healthy smiles while consistently achieving double digit sales and EBITDA growth over the past decade. Camden under David’s leadership has been an incredible partner and has been instrumental in helping us build a sustainable legacy of growth,” said Rich Sorota.
About Ranir, LLC
Ranir is a leading global manufacturer of store brand private label consumer oral care products, including power and manual toothbrushes, teeth whiteners, dental floss, flossers and interdental brushes. Founded in 1979, Grand Rapids, Michigan-based Ranir serves retail customers globally and is committed to delivering affordable, healthy smiles in millions of households every day. Its products, which include some of the world’s largest oral care store brands, can be found at major retailers in more than 50 countries. The consumer and customer insight driven research and development-focused company also owns, manufactures and markets the Plackers® and REMBRANDT® brands and proudly employs more than 650 associates worldwide. For more information, visit www.ranir.com.
Perrigo Company plc (NYSE: PRGO) is dedicated to making lives better by bringing “Quality, Affordable Self-care Products™” that consumers trust everywhere they are sold. The Company is a leading provider of over-the-counter health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Visit Perrigo online at http://www.perrigo.com.
About Camden Partners
Founded in 1995, Camden Partners is a multi-strategy private equity firm based in Baltimore, MD. Camden Partners’ growth strategy leverages domain expertise in the technology-enabled business services, healthcare services and education sectors to turn lower middle market companies in these sectors into market leaders. For more information, visit www.camdenpartners.com.