German drugs packaging firm Gerresheimer has agreed to buy US plastic vials manufacturer Centor for US$725m in cash, extending its footprint in the primary pharmaceutical packaging market for prescription drugs.
Founded in 1968 and based in Perrysburg, Ohio, US, Centor is a leading manufacturer of plastic vials and closures for oral drugs in the prescription retail market. Its product portfolio includes Screw-Loc and 1-Clic, the two leading products in the US plastic vials market.
Centor is a carve-out of Nemera Group, a former business of Rexam Healthcare divested in 2014. The company's pro forma annual revenue in 2014 was $167m.
The company will be integrated into Gerresheimer's Plastics & Devices Division.
Uwe Röhrhoff, Chief Executive of Gerresheimer, said: 'Centor is the highly profitable market leader for plastic vials and closures in the prescription retail market. This is a perfect fit to extend our product offering from packaging of parenterals to the packaging of oral drugs in the US. We expect that this acquisition will increase shareholder value significantly.'
The closing of the deal is subject to regulatory approval and is expected during the fourth quarter of the current financial year.
