Germany’s Gerresheimer acquires control of India’s Triveni Polymers

18 December 2012 18:24  [Source: ICIS news]

LONDON (ICIS)--Gerresheimer has acquired a majority shareholding of India's pharmaceutical plastics packager Triveni Polymers for an undisclosed sum, the Germany-based international pharma and healthcare packaging firm said on Tuesday.

Triveni Polymers is a leading producer of pharmaceutical plastic packaging in India with more than 300 employees and a plant at Kundli near New Delhi, Gerresheimer said.

Gerresheimer said it acquired a 75% stake in Triveni for an earnings before interest, tax, depreciation and amortisation (EBITDA) multiple of about 10. Triveni’s current owners will retain a 25% minority stake. 

“This acquisition is well aligned to our strategy of enhancing our footprint in the emerging markets,“ said Hans-Jurgen Wiecha, Gerresheimer’s chief financial officer.

“Our global expertise combined with the excellent local manufacturing capabilities of Triveni will speed up our growth in the emerging countries,” Wiecha added.

Gerresheimer expects to close the deal later this month.

By: Stefan Baumgarten
+1 713 525 2653

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