Gerresheimer, a leading global partner to the pharma and biotech industries, today announced the successful completion of its acquisition of Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group.
This acquisition, initially announced in May 2024, marks a significant milestone in Gerresheimer’s strategic growth plan, bolstering its European presence and enhancing its comprehensive service offerings.
The acquisition follows the satisfaction of all customary closing conditions. Bormioli Pharma, with its 2023 sales of approximately EUR 371 million and an Adjusted EBITDA margin of around 22 percent, brings a highly complementary product portfolio to Gerresheimer. The company’s expertise spans the manufacturing of pharmaceutical primary packaging in both glass and plastic, along with closure solutions, accessories, and dosing systems. Bormioli Pharma holds a particularly strong position as a leading supplier of pharmaceutical plastic systems and possesses an attractive glass portfolio for parenteral and other pharmaceutical packaging.
This acquisition is expected to be immediately accretive to Gerresheimer’s Adjusted EBITDA margin and Adjusted EPS. Synergies resulting from the integration are anticipated to further enhance profitability in the coming years.
Strategic Restructuring and Future Outlook:
The combined entity creates a robust new Moulded Glass unit, significantly expanding Gerresheimer’s capabilities and market reach across the pharmaceutical, cosmetic, food, and beverage sectors. This newly formed unit will provide a foundation for a strategic reset aimed at optimizing growth prospects and competitiveness. A detailed evaluation of strategic options for this unit will be undertaken in the coming months.
Bormioli Pharma will be fully integrated into the Gerresheimer Group, with consolidation retroactive to December 1, 2024, the commencement of Gerresheimer’s fiscal year 2025. Consequently, updated guidance for 2025 and a new mid-term outlook for the combined company will be released on February 26, 2025, alongside the financial results for 2024. This comprehensive update will provide investors with a clear picture of the combined company’s future trajectory.
This acquisition represents a significant step forward for Gerresheimer, strengthening its position as a leading full-service provider and solidifying its commitment to delivering innovative and high-quality packaging solutions to its global customer base. The company looks forward to integrating Bormioli Pharma and leveraging the combined strengths of both organizations to drive future growth and success.
Source: Gerresheimer with additional information added by GlassBalkan
