Perrigo Sells Infant Formula Business to ByHeart Founders' New Company: Rep. DeLauro Raises Serious Questions
Perrigo Company plc announced on October 29 that it has entered into a definitive agreement to sell its infant formula business to MeridianMade for total consideration of up to $175 million, consisting of $40 million in cash at closing and up to an additional $135 million contingent on performance milestones through 2030. MeridianMade, an American contract manufacturing platform dedicated to infant nutrition, was founded in July by Ron Belldegrun and Mia Funt — the co-founders of the infant formula brand ByHeart.
The deal quickly drew scrutiny in Congress. U.S. Representative Rosa DeLauro released a statement saying: 'ByHeart was at the center of one of the most serious infant formula safety issues in recent memory. 48 babies across 17 states were sickened by ByHeart's formula, and every one of them hospitalized.' She noted that ByHeart's formula has since been discontinued and that while the Food and Drug Administration (FDA) traced the contamination to an ingredient in the supply chain, the exact origin of the bacteria remains unresolved and no root cause has been identified. 'Families still do not know how, when or exactly where their children's formula became contaminated,' she said.
DeLauro also warned about market consolidation, saying the U.S. infant formula market is even more concentrated than it was during the 2022 shortage that left families turning to online marketplaces to feed their children. While she said she was grateful that industry giants Abbott and Mead Johnson were not acquiring Perrigo's business, she said she still has 'serious questions about this acquisition,' adding that ByHeart discontinuing its formula does not end the search for answers on safety: 'Before they continue to expand, parents deserve answers.'
The infant botulism investigation has since closed with 48 cases — 28 confirmed and 20 probable — across 17 states. The infants ranged in age from 16 to 264 days; all were hospitalized and treated, and no deaths were reported. FDA's investigation identified Clostridium botulinum in an organic powdered milk ingredient supplied to the company, but did not determine a root cause for the contamination.
Perrigo said the divestiture advances its evolution into a more focused consumer self-care company. The infant formula business generated net sales of $380 million in the trailing four quarters ended June 27, 2026. Until closing, Perrigo will continue to own and operate the business, and the two companies will operate independently. The transaction is expected to close in the first half of 2027, subject to customary closing conditions and regulatory approvals.
(Source: Perrigo Company plc; Office of U.S. Representative Rosa DeLauro)
Source: 佩里戈公司、美国国会众议员罗莎·德劳罗办公室
Published by GSM · USA (original Chinese edition)
Photo: 联邦众议员罗莎·德劳罗官方肖像（公共领域），经 Wikimedia Commons。 / Official portrait of U.S. Representative Rosa DeLauro (public domain), via Wikimedia Commons.
