Gerresheimer expands pharmaceutical packaging with Centor acquisition
Gerresheimer reached an agreement with Nemera Development S.A. to acquire 100 percent of the share capital of Centor.
“Centor is the highly profitable market leader for plastic vials and closures in the prescription retail market,” Gerresheimer CEO Uwe Röhrhoff said. “This is a perfect fit to extend our product offering from packaging of parenterals to the packaging of oral drugs in the U.S. We expect that this acquisition will increase shareholder value significantly.”
The total consideration amounts to $725 million cash-free and debt-free. The acquisition will be all cash and fully debt financed, and the closing is expected during the fourth quarter of 2015.
“We are happy to join the Gerresheimer Group with its high expertise in primary pharmaceutical packaging,” Centor President Paul Arsenault said. “In the future, we will contribute to Gerresheimer's success with our market leadership in the North American prescription plastic vial retail market.”