Gerresheimer To Acquire Centor for $725 M
To expand its pharmaceutical packaging business, Gerresheimer AG has agreed to acquire Centor, a Perrysburg, Ohio-based manufacturer of plastic vials and closures for oral drugs, for $725 million. Gerresheimer inked the agreement with Nemera Development S.A. to acquire 100% of the share capital of Centor US Holding Inc. Centor is a carve-out of Nemera Group, a former business of Rexam Healthcare divested in 2014. Centor's annual revenue in 2014 amounted to $167 million (pro forma).
In explaining the rationale for the acquisition, Gerresheimer outined that the US prescription industry is structured around the established “pour-and-count' system,” whereby the exact number of prescribed oral drugs is delivered to patients in plastic vials. Centor has a product portfolio, including Screwâ€“Loc and 1-Clic, the two products in the US plastic vials market. Centor serves national and regional pharmacy chains, supermarkets, and wholesalers.
The closing of the transaction is subject to regulatory approval and is expected during the fourth quarter of financial year 2015. Upon closing, Centor will be integrated in the Plastics & Devices Division of Gerresheimer.