The Perrigo Company divested of Perrigo’s effervescent tablets business and related manufacturing facilities to Tower Laboratories,

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Cascade Partners (BlueWater Partners) acted as the exclusive financial advisor to The Perrigo Company in the divestiture of Perrigo’s effervescent tablets business and related manufacturing facilities in Montague, Mich., to Tower Laboratories, based in Centerbrook, Conn. Ray Canole, Business Development Manager of Perrigo, said, “BlueWater Partners (Cascade Partners) played a key role in finding a buyer and managing this sale for Perrigo. As a result, employees and customers formerly involved with Perrigo have the opportunity to work with Tower Laboratories going forward. We appreciate BlueWater’s expertise in helping us negotiate a creative alternative that has resulted in a win-win situation for customers, employees and the West Michigan community.”

The Perrigo Company is a leading global healthcare supplier and the world’s largest manufacturer of over-the-counter (OTC) pharmaceutical and nutritional products for the store brand market. Store brand products are sold by food, drug, mass merchandise, dollar store and club store retailers under their own labels. The Company also develops, manufactures and markets prescription generic drugs, active pharmaceutical ingredients and consumer products and operates manufacturing facilities in the United States, Israel, the United Kingdom, Mexico, Germany and China.

Tower Laboratories develops and produces high-quality, over-the-counter medications, prescription pharmaceuticals, personal care, beverage and household products for both name-brand and private-label markets. Its product line includes denture cleanser tablets, antacids, cold medications, laxatives, potassium supplements, instant soft drink tablets and bath tablets. Regular customers include Wal-Mart, CVS, Walgreens, Stop & Shop, Target and others.

Cascade Partners (BlueWater Partners) served as the exclusive financial advisor for The Perrigo company.

Update: BlueWater Partners has joined Cascade Partners. Read more here.