German pharmaceutical packaging company Gerresheimer (GRRMF) (GRRMY) has entered into an agreement to sell its U.S. Centor business and its global primary packaging plastics unit. The acquiring entity in this significant transaction is private equity firm Apax Funds.
The total value of the deal stands at approximately €1.5 billion, which translates to about $1.71 billion. This valuation, as specified in the agreement, notably includes debt associated with the divested businesses.
This strategic divestiture sees Gerresheimer, a prominent player in specialized packaging solutions for the pharmaceutical industry, transferring ownership of its U.S. Centor operations and its worldwide primary packaging plastics division. Apax Funds, a global private equity advisor, will integrate these units into its portfolio, reflecting a notable shift in their ownership and strategic direction within the packaging sector.
