The company says net proceeds are expected to range between $305 million and $310 million, and upon closing of the transaction, the proceeds would be used to reduce the company’s debt.
This new requirement was established following a months-long infant formula shortage sparked by insanitary conditions at one of the nation’s largest infant formula facilities.
The company says the formula utilizes the unique and scientifically validated properties of goat milk to provide parents a gentle option for their babies.
The FDA expects over time for this guidance, together with other activities, to result in industry progressively reducing levels of lead in foods to as low as possible.
The U.S. Food and Drug Administration Children: Draft Guidance for Industry.” As the agency outlined in Closer to Zero, it expects over time for this guidance, together with other activities, to result in industry progressively reducing levels of lead in foods to as low as possible.
The acquisition aims to yield a crucial incremental supply of infant formula in the U.S. and ultimately contribute to safeguarding the country from future shortages.