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Gerresheimer, a German manufacturer specialising in packaging for pharmaceuticals and cosmetics, is reportedly considering a potential sale.
The company has engaged advisors to assess interest from potential buyers, with several private equity companies, including Warburg Pincus, EQT, and KKR & Co, showing preliminary interest, Bloomberg reported, citing sources with knowledge of the matter.
According to these sources, Gerresheimer is seen as an attractive acquisition target due to its diversified operations in two distinct business segments.
Despite this, some of the private equity funds have expressed concerns over the company's current valuation, leading them to refrain from pursuing a deal.
Furthermore, Gerresheimer has reportedly been considering strategic alternatives for its moulded glass division since last year.
In December last year, the company unveiled its plan to add a syringe production facility at its site in Skopje, North Macedonia, where it manufactures plastic systems for the pharmaceutical sector.
For this initiative, the company invested more than €100m ($105m) in the construction and outfitting of the new building, which added approximately 7,600m² in production space.
The new factory hall will produce syringes and other primary packaging made from tubular glass.
This investment in expanding the Skopje plant is also expected to double the workforce at the site, increasing the number of employees from around 250 to 500 over the next three to five years.
The first syringe production lines at the site are projected to begin operations by the end of this year, with additional lines scheduled for installation.
"German packaging company Gerresheimer considers potential sale" was originally created and published by Packaging Gateway, a GlobalData owned brand.
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