EQS-News

Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group – Strategic reset of Moulded Glass business

EQS-News: Gerresheimer AG / Key word(s): Mergers & Acquisitions Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group – Strategic reset of Moulded Glass business 23.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Gerresheimer to acquire Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group – Strategic reset of Moulded Glass business

• Strategic acquisition: Complementary product portfolio and broad footprint with production sites in Europe
• Gerresheimer underpins leading market position as a full-service provider for the pharmaceutical and biotech industries 
• Higher profitability and EPS accretion

Düsseldorf, May 23, 2024. Gerresheimer Glas GmbH, an indirect subsidiary of Gerresheimer AG, has today signed a purchase agreement with funds advised by Triton ("Triton") for the acquisition of Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group ("Bormioli Pharma"). The purchase price is based on a determined enterprise value of around EUR 800 million, which corresponds to an adj. EBITDA multiple of around 10 Bormioli Pharma, has 9 production sites in Europe. The Group generates revenues of around EUR 370 million and an adj. EBITDA margin of around 21%. Bormioli Pharma has a complementary portfolio of pharmaceutical primary packaging made of glass and plastic, as well as closure solutions, accessories, and dispensing systems. With this acquisition, Gerresheimer strengthens its European footprint with additional production sites, especially in Southern Europe, and underpins its market position as a leading full-service provider and global partner for the pharmaceutical and biotech industries. The acquisition is expected to be 50 to 100 basis points accretive to Adj. EBITDA margin in the near term and more than 10% accretive to EPS from the first year after closing. The transaction is subject to customary closing conditions and approvals. Closing is expected in the fourth quarter of the 2024 financial year.