DUESSELDORF (dpa-AFX) - Gerresheimer AG (GRRMF.PK), a German maker of packaging products for medication and drug delivery devices, said it signed an agreement with funds advised by Triton to buy Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group, for enterprise value of about 800 million euros.
Gerresheimer noted that the purchase price will be financed by a bridge loan from a banking syndicate consisting of UniCredit, Commerzbank and LBBW.
The acquisition is expected to be 50 to 100 basis points accretive to adjusted EBITDA margin in the near term and more than 10% accretive to earnings per share from the first year after closing.
Closing is expected in the fourth quarter of the 2024 financial year.Bormioli Pharma manufactures pharmaceutical primary packaging made of glass and plastic, as well as closure solutions, accessories and dosing systems.
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