Gerresheimer, one of the leading partners to the worldwide pharmaceutical and healthcare industry, will further extend its packaging business with the acquisition of Centor.
The German company has reached an agreement with Nemera Development S.A. to acquire 100% of the share capital of Centor US Holding INC for $725 million. The deal, which is all cash and fully debt financed, is expected to close towards the end of the year.
Uwe Röhrhoff, Chief Executive of Gerresheimer, comments: “Centor is the highly profitable market leader for plastic vials and closures in the prescription retail market. This is a perfect fit to extent out product offering from packaging of parental to the packing of oral drugs in the US. We expect that this acquisition will increase shareholder values significantly.”
Centor president Paul Arsenault adds: “We are happy to join the Gerresheimer Group with its high expertise in primary pharmaceutical packaging. In the future we will contribute to Gerresheimer’s success with our market leadership in the North American prescription plastic vial retail market.”