Gerresheimer's €1.5 Billion Strategic Divestment
Gerresheimer Divests Centor and Plastics Businesses to Apax for €1.5 Billion
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Key Points
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Centor US Holding Inc. sale is targeted to close by the end of Gerresheimer's 2025/26 fiscal year (by the end of November).
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The sale of Global Primary Packaging Plastics is targeted to close in the first half of Gerresheimer's 2026/27 financial year.
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The moulded-glass plant in Chicago will be closed at the end of the current fiscal year as part of the restructuring.
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Gerresheimer engaged a second audit firm to review revenue recognition and accounting in prior fiscal years after the late-year results due to accounting issues.
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Regulatory actions included BaFin audits of the financial statements and the company’s removal from Deutsche Boerse’s SDAX index.
Gerresheimer AG is selling two major business units to private equity firm Apax Partners for a combined €1.5 billion ($1.7 billion), in a deal that reshapes the German pharmaceutical packaging company's future. The sale covers Centor US Holding Inc. and Gerresheimer's global Primary Packaging Plastics business, according to MarketWatch.
Together, the two units run 16 production sites across nine countries, employ about 2,400 people, and generated roughly €570 million in revenue in 2025. The deals will close in two stages — Centor by the end of November 2026, and the plastics business in the first half of 2027, Plastics Today reported.
What Gerresheimer Is Selling and to Whom
Centor US Holding Inc. is a U.S.-based maker of prescription vials and pharmaceutical packaging. The global Primary Packaging Plastics (PPP) business spans 15 plastic packaging sites across nine countries. Apax Partners, a global private equity firm, is buying both through affiliated funds, Market Screener confirmed.
The two deals are structured independently, meaning each has its own closing timeline and terms. Apax said it plans to expand capacity, invest in innovation, and grow the U.S. business after taking ownership, according to Pulse2.
Gerresheimer Cuts Debt and Restructures Balance Sheet
The €1.5 billion in cash is central to Gerresheimer's plan to reduce its debt load. The company says the inflows will "significantly optimize" its capital structure and cut leverage. Leverage refers to how much debt a company carries compared to its earnings — a key measure of financial health.
As part of the same restructuring, Gerresheimer will close its moulded-glass plant in Chicago at the end of the current fiscal year. The plant closure and the two asset sales together signal a sharp narrowing of the company's focus, Plastics Today noted.
Accounting Scandal Shadowed the Company Before the Deal
The sales come after a turbulent period for Gerresheimer. The company delayed its financial results due to accounting issues, which triggered a review by Germany's financial regulator BaFin. BaFin audited Gerresheimer's financial statements as a result, according to USA Herald.
Gerresheimer also hired a second audit firm to review revenue recognition practices across prior fiscal years. The controversy led Deutsche Boerse to remove the company from its SDAX index — a closely watched list of mid-sized German companies. The asset sales are seen partly as a way to move past this scrutiny and rebuild investor trust.
Apax Sees Growth Potential in Pharma Packaging
Apax is betting the two businesses can grow faster as standalone companies. The firm said it will back continued investment in U.S. expansion and product innovation. Prescription vials and primary pharmaceutical packaging — materials that directly touch the drug — are considered high-demand, defensible markets.
Plastics Today reported that Apax views the businesses as leaders in their categories. The deal gives Apax a significant footprint in pharma packaging at a time when demand for drug delivery products remains strong globally.
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