08:58 AM EDT, 07/14/2025 (MT Newswires) -- Perrigo ( PRGO ) said Monday it has agreed to sell its dermacosmetics branded business for up to 327 million euros ($382 million) to Kairos Bidco, a KKR (KKR) managed investment vehicle.

The transaction is to consist of 300 million euros in upfront cash and up to an additional 27 million euros contingent upon certain sales-related milestones achieved over the next three years, the company said. Perrigo ( PRGO ) said the proceeds from the sale will be used for previously announced capital allocation priorities.

The deal is expected to close in Q1 of 2026, Perrigo ( PRGO ) said.