(PRESS RELEASE) PARMA, Italy, 19-Mar-2020 — /EuropaWire/ — Bormioli Pharma announces the issuance of a binding offer to acquire 100% of specialist in the production of plastic, rubber and aluminum closures for pharmaceutical applications, GCL Pharma.
The aggregate purchase price offered for the acquisition is 8,9 M€.
GCL Pharma is an Italian company of the Guala Closures Group, headquartered and with production plant in Vasto (Chieti), Italy. The company has shown a strong capacity for innovation and continuously develops its product range to meet the strictest pharmaceutical standards. In 2019 GCL Pharma had a turnover of around 8 million euros.
Bormioli Pharma is a leading company in the production of primary packaging in glass and plastic for pharmaceutical use. The company aims to become a stronger player in the sector by continuously investing.
The acquisition further expands its product range by consolidating its ability to support even the most demanding pharma players. This transaction follows the acquisition of Remy & Geiser which was completed last autumn.
The transaction is expected to close in the coming weeks.
“With the acquisition of GCL Pharma, we will continue our growth path. We aim to strengthen our industrial footprint by adding new technologies that allow to extend our product range, especially in the oral and parenteral segments, activating further business synergies,” stated Andrea Lodetti, CEO of Bormioli Pharma.
“This disposal will allow the Guala Closures Group to fully-focus on its core business, and specifically on high value closures with increased growth prospective, including connected closures,” added Marco Giovannini, Group Chairman and CEO of Guala Closure Group.
About Guala Closures Group
The Guala Closures Group has over 4,700 employees and operates on 5 continents through 30 production plants and a marketing of its products in over 100 countries. Today the Group sells nearly 20 billion closings yearly with a 2019 turnover of Euro 607 million. Thanks to a policy of continuous business development and technological innovation, the Group is recognized as a reference point worldwide in the production of safety closures for alcohol and is a leader in the production of aluminum closures for spirits, wines and drinks.
Since August 2018, Guala Closures SpA has been listed on the STAR segment of Borsa Italiana, entering the FTSE Italia Mid Cap index in September 2019.
SOURCE: Bormioli Pharma