Gerresheimer, a major manufacturer of pharma packaging, is selling its plastic packaging business to a UK-based private equity firm for €1.5 billion.
The sale of Centor US Holding Inc is also included in the deal. This specific part of the sale is expected to close by the end of the 2026 financial year, with the closure of the primary packaging plastics business projected for the first half of financial year 2027.
At that point Apax, the private equity group in question, will own the Centor site in the US, plus 15 plastic packaging production sites operating across nine countries. In 2025, the two businesses reported combined revenue of roughly €570 million with a total of around 2,400 employees.
“This transaction is an important milestone in optimizing our capital and financing structure, decreasing our leverage significantly,” says Wolf Lehmann, CFO of Gerresheimer.
“We will use the expected cash inflows to accelerate our debt reduction. Together with the planned comprehensive refinancing, this will significantly reduce our interest expenses and achieve a sustainable capital structure. In addition, the continued implementation of our transformation program will also have a positive impact on our operating and free cash flow.”
Meanwhile, from Apax’s perspective, partner Anders Meyerhoff says: “Centor and Primary Packaging Plastics are market leaders in prescription vials and primary pharmaceutical packaging, built on a decades long reputation for quality and reliability. We have significant experience in carveouts and, together with our Operational Excellence Practice, we will work alongside management to establish a strong, standalone company positioned for long term growth.”
If you liked this story, you might also enjoy:
The ultimate guide to packaging innovation in 2026
Packaging and Packaging Waste Regulation: what to know in 2026
Everything you need to know about global packaging sustainability regulation
No comments yet