Gerresheimer sells two packaging units to Apax Partners in US$1.73B deal

GERMANY—Gerresheimer, a Germany-based manufacturer of drug delivery systems and glass and plastic packaging, has agreed to sell two business units to private equity firm Apax Partners for €1.5 billion (US$1.73 billion).

The transaction covers Centor US Holding and Gerresheimer’s Primary Packaging Plastics business.

The divestment forms part of the company’s broader restructuring as it seeks to strengthen its finances and sharpen its focus on higher-value healthcare products.

Gerresheimer expects the sale of Centor to close by the end of 2026, while the transaction involving Primary Packaging Plastics is expected to be completed by the end of 2027.

The company did not disclose additional financial or contractual details, citing a mutual agreement between the parties.

Centor, headquartered in Perrysburg, Ohio, supplies packaging solutions for the pharmaceutical sector.

Gerresheimer acquired the business for US$725 million in 2015 as part of its efforts to expand its presence in drug packaging and delivery systems.

Primary Packaging Plastics operates 15 production facilities across nine countries and is based in Bolivar, Ohio.

The business manufactures plastic packaging products used across the healthcare and pharmaceutical industries.

Gerresheimer restructures after financial losses

The divestments come as Gerresheimer continues to restructure its operations following a sharp deterioration in its financial performance.

The company reported a net loss of €318.7 million (US$367.9 million) in 2025, compared with net income of €84 million (US$96.7 million) a year earlier.

Several factors have contributed to the company’s financial difficulties, including an investigation by Germany’s financial regulator BaFin, high levels of debt linked to acquisitions and weaker market demand for some of its products.

Gerresheimer chief executive Uwe Röhrhoff said the transaction would give the company greater flexibility as it reshapes its business.

“This transaction allows us to regain our strategic flexibility,” Röhrhoff said in a statement.

He added that Gerresheimer would focus more strongly on high-value drug delivery systems and medical devices, as well as primary packaging for injectable medicines.

Proceeds to support debt reduction

Gerresheimer plans to use proceeds from the divestments to reduce its overall debt. The company said the transactions would also support efforts to improve its capital and financing structure.

“This marks an important milestone in optimizing our capital and financing structure,” said Wolf Lehmann, Gerresheimer’s chief financial officer.

The company’s revised strategy will place greater emphasis on its role as a global supplier to pharmaceutical and biotechnology companies, particularly in areas involving drug delivery, medical devices and packaging for injectable medicines.

Gerresheimer has not disclosed whether the restructuring will result in additional divestments or changes to its remaining business portfolio.