Nipro, a Japanese pharmaceutical packaging firm, has purchased the acquisition of Piramida, a Croatian glass Pharmaceutical packaging manufacturer. This acquisition will aid Nipro in fulfilling the growing demand for pharmaceutical packaging in Central European markets and will help Piramida to strengthen its status in Europe and other global markets.
The acquisition and transfer of shares to Nipro were conducted by Blue Sea Capital, a private investment firm. The transaction’s financial terms have not yet been revealed.
Yoshihiko Sano, President of Nipro said: “This latest acquisition demonstrates that Nipro takes its role and responsibility to society at large seriously.
“Extending our manufacturing footprint is of the utmost importance when supply continuity may be at stake.”
Kresimir Sečak, CEO of Piramida said: “Our management team is looking forward to working with Nipro to further advance Piramida’s position in the European and global markets.”
Piramida is capable of manufacturing over 500 million glass containers per year.
Blue Sea Capital acquired the company in 2012. Since then, it has invested in renovating its facilities and adding eight new manufacturing lines.
The vials and ampoules company of Piramida has expanded under the acquisition of Blue Sea Capital, propelling it to the top five ampoules manufacturing firms in Europe’s Pharmaceutical market.
The European Bank for Reconstruction and Development (EBRD) granted the firm a loan of €3.6 million in 2013, which was partially invested in establishing new manufacturing facilities.
Saša Galić, the managing partner of Blue Sea Capital said: “We are proud that Piramida has attracted the interest of one of the leading global players in the pharmaceutical packaging industry.
“We are excited to watch Piramida enter a new phase of growth with global ambitions.”