German packaging firm Gerresheimer has acquired Wilden, the European market leader for medical drug-delivery plastic systems, in a move that will show worldwide presence through targeted acquisitions.
Gerrresheimer has utilised a targeted acquisition strategy over the past twelve months, to make their presence felt in the USA, Europe and China. The latest addition Wilden, is expected to increase the Gerresheimer's sales volume to more than €900 million.
The acquisition strategy was seen in 2005, when Gerresheimer acquired Danish-based Superfos Pharma, one of Europe's leading suppliers of plastic packaging, in a move that was anticipated to double the group's turnover in plastics to €50 million.
"This marks a giant step in our strategy to generate sustained growth through the acquisition of technology and market leaders in the field of pharma packaging and systems. Through the purchase which brings around €240 million of additional annual sales, Gerresheimer grows into a new order of magnitude," said Axel Herberg, Gerresheimer CEO.
"Our pharma business in plastic thereby grows into a new order of magnitude which gives us a completely new positioning towards our customers,"
Gerresheimer will now comprise of the following four divisions: tubular glass, moulded glass, life science research and plastic systems. Wilden's plastic systems has been divided into medical plastic systems (pharmaceutics, diagnostics, medical technology and consumer healthcare) and technical plastic systems. Medical plastic systems were estimated to be worth €160 million.
"In Gerresheimer we have found a globally active and highly competitive partner with which the company will develop outstandingly well," said Hans Wilden, who runs the family business.
The Gerresheimer Group consists of more than 31 production plants globally and employs 8,500 people.