Gerresheimer to Acquire Blitz LuxCo Sarl and Review Moulded Glass Business

Düsseldorf, May 23, 2024. Gerresheimer AG announced today that its subsidiary, Gerresheimer Glas GmbH, has signed a purchase agreement to acquire Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group. The deal cost is based on an enterprise value of around EUR 800 million, translating to an adjusted EBITDA multiple of approximately 10. Bormioli Pharma operates nine production sites in Europe.

Bormioli Pharma has a complementary portfolio of glass and plastic pharmaceutical packaging, as well as closure solutions, accessories, and dosing systems. The acquisition will enhance Gerresheimer's presence in Southern Europe with additional production sites.

Upon completion, Gerresheimer will create a new Moulded Glass business unit, providing new strategic opportunities. The deal will be financed by a consortium including UniCredit, Commerzbank, and LBBW. Expected to close in Q4 2024, the transaction is subject to typical closing conditions and approvals.