The Packaging Manufacturer Gerresheimer Announces Acquisition of Blitz LuxCo Sarl, the Holding Company of the Bormioli Pharma Group, from Funds of Financial Investor Triton. The purchase price is based on a company value of approximately 800 million euros, which corresponds to an adjusted EBITDA multiple of about 10, Gerresheimer reported. Bormioli Pharma, based in Parma, Italy, has nine production sites in Europe.

Bormioli Pharma's portfolio includes primary pharmaceutical packaging made of glass and plastic, as well as closure solutions, accessories, and dosing systems, thus perfectly complementing the range offered by Gerresheimer. This acquisition is intended to create a new business unit for Moulded Glass, which opens up additional strategic options.

The financing of the transaction is provided by a banking consortium consisting of UniCredit, Commerzbank, and LBBW. The transaction is expected to close in the fourth quarter.

The news of the planned takeover caused a sharp increase in the price of Gerresheimer shares in early trading on Thursday. On the XETRA trading platform, the shares of the specialty packaging manufacturer most recently rose by 11.59 percent to 104.00 euros. This appears to have put an end to the recent downtrend for the time being. In the past four trading days, the titles had fallen by more than 12 percent. Until Wednesday, the stock had recorded a loss of just over one percent for the current year to date.

Jefferies analyst James Vane-Tempest commented that the acquisition should reassure Gerresheimer investors following recent speculation about a possible profit warning. Recently, the stock suffered due to bad news from industry peers like Schott Pharma and Stevanato.