DÜSSELDORF (dpa-AFX) - Packaging manufacturer Gerresheimer is expanding its pharma business by acquiring the Bormioli Pharma Group. The company is valued at 800 million euros, Gerresheimer announced in Düsseldorf on Thursday. Specifically, Gerresheimer is taking over the holding company of Bormioli Pharma, Blitz LuxCo Sarl, from the financial investor Triton. Bormioli Pharma manufactures pharmaceutical primary packaging made of glass and plastic as well as closures, accessories and dosing systems. The company reportedly has nine production sites in Europe and annual sales of around 370 million euros and an adjusted margin before interest, taxes, depreciation and amortization (EBITDA) of around 21 percent.

The acquisition strengthens Gerresheimer's European presence with additional production sites, particularly in Southern Europe, it said. The acquisition is expected to increase earnings per share by more than 10 percent from the first

year after completion of the transaction. The transaction is still subject to approval from various parties and is expected to be completed in the fourth quarter./nas/stk