Gerresheimer Acquires 75 % of Triveni
Gerresheimer AG, Düsseldorf, Germany, has acquired the majority shareholding in the Indian company Triveni to further accelerate its growth in the emerging markets. Triveni Polymers Ltd. Pvt. is a producer of pharmaceutical plastic packaging in India with more than 300 employees with office in New Delhi and with a plant in the nearby city of Kundli (Haryana Province, India). Established in 1979 it was the first Indian company in 1995 to get approval by the American FDA (Food and Drug Administration) for crucial Drug Master Files (DMF) for plastic containers and closures. In the 2011/12 financial year, Triveni generated annual revenues of approximately INR 1.3 bn (around EUR 20 m). Gerresheimer acquires a 75% stake in the company for an EBITDA multiple of approximately 10 times. The owners retain 25% of the shares, among them the current managing director who will continue to serve in this position. Closing of the acquisition is expected still in December 2012.
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