Bormioli Pharma issues a binding offer to acquire GCL Pharma

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Bormioli Pharma announces today the issuing of a Binding Offer for the acquisition of 100% of GCL Pharma, an Italian subsidiary of the Guala Closures Group, specialized in the production of plastic, rubber and aluminum closures for pharmaceutical applications.

Bormioli Pharma, a visitor leader in the product of pharmaceutical glass and plastic chief packaging, continues investing to become a stronger player in the sector.

This farther acquisition that follows the one of Remy and Geiser completed last Autumn would allow the company to overstate its product range, consolidating its ability to support the well-nigh enervating Pharma players.

In 2022 GCL Pharma recorded a turnover of approximately Euro 8 million (approximately Rs 65 crore). Over the years, the company has demonstrated strong innovation capabilities by continuously improving its production range to see the most stringent pharma standards. The company's main bounds and product found are located in Vasto (Chieti). The aggregate buy price offered for the acquisition is Euro 8.9 1000000 (approximately Rs 65 crore).

Andrea Lodetti, chief executive officer of Bormioli Pharma, said, "With the acquisition of GCL Pharma, nosotros volition continue our growth path. Nosotros aim to strengthen our industrial footprint by adding new technologies that allow extending our product range, specially in the oral and parenteral segments, activating further business synergies."

Marco Giovannini, group chairman and master executive officer of Guala Closure Grouping commented, "This disposal will allow the Guala Closures Grouping to fully focus on its core business, and specifically on high-value closures with increased growth prospective, including connected closures".

Closing of the transaction is expected in the next few weeks.

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