Apax Funds is set to acquire two packaging units, Centor and Primary Packaging Plastics, from German drugs packaging firm Gerresheimer for an enterprise value of approximately €1.5 billion ($1.71 billion). The private equity group plans to finance a significant portion of this acquisition with roughly €1 billion in debt.
Gerresheimer's decision to sell these units comes amid an ongoing accounting probe and is intended to optimize its capital and financing structure by significantly decreasing its leverage. The two units generated combined revenue of approximately €570 million in 2025 and employ around 2,400 people across 16 production sites in nine countries, including the U.S. Centor site and 15 primary plastic packaging sites.
The sale of Centor is expected to close by the end of financial year 2026, while the global Primary Packaging Plastics business is anticipated to close in the first half of financial year 2027. Apax aims to establish the acquired businesses as a strong, standalone company, with plans to invest in capacity, innovation, and U.S. expansion.
