The Yokebe is expected to generate about €30m in full year 2015 net sales.
Yokebe comes in a shake/liquid form and is marketed within the ‘meal replacement’ category.
Perrigo chairman, president and CEO Joseph Papa said: "Our acquisition of the margin-enhancing Yokebe brand demonstrates our continued execution on our ‘Base Plus Plus Plus’ strategy by building on Omega Pharma’s leading OTC product portfolio and European commercial infrastructure.
"Coupled with our recent acquisition of well-established European brands from GlaxoSmithKline, we continue to leverage our robust balance sheet and strong global platform to execute immediately accretive deals, such as this one, that will have a multiplier effect on our growth.
"With Omega’s pan-European distribution network, strong brand-building capabilities and exceptional management team, Perrigo is uniquely positioned to maximize the potential of these brands to capture an even greater share of the $30bn European OTC market opportunity."
Pending German regulatory approval and the satisfaction of customary closing conditions, the transaction is expected to be closed in the third quarter of this year.