Gerresheimer Explores Potential Sale Amid Private Equity Interest
Düsseldorf, Germany - Gerresheimer AG, a German manufacturer of packaging for pharmaceuticals and cosmetics, is reportedly exploring a potential sale, according to individuals familiar with the matter.
The company has appointed advisors to assess interest from potential acquirers. Gerresheimer's shares surged up to 15% in German trading on Friday, valuing the company at approximately €2.7 billion ($2.8 billion).
Several private equity funds, including Warburg Pincus, EQT AB, and KKR & Co., are said to have expressed interest in Gerresheimer. The company has been seen as an attractive target for buyout firms due to its perceived breakup potential.
Activist investor Ricky Sandler, founder of Eminence Capital, holds a 5.4% stake in Gerresheimer. The company has had discussions with Sandler but remains unclear about his intentions.
Gerresheimer's cosmetics unit manufactures plastic bottles and glass jars for products such as perfume, skincare, and toner. Its other division produces complex drug packaging and delivery systems, including syringes, vials, injectors, inhalers, and wearable infusors.
The company has also been considering strategic options for its molded glass business. While it is now exploring the sale of the entire company, there is no guarantee that these discussions will result in a transaction.
Representatives from EQT, KKR, and Warburg Pincus declined to comment. Gerresheimer spokespersons did not respond to requests for comment.