Italian producer of pharmaceutical glass packaging, Stevanato Group has acquired the operating units of Balda Group, a Germany based supplier of precision plastic solutions, for €95m ($105m).
Under the terms of the deal signed earlier, Stevanato will acquire the Balda Group's operating units including Balda Medical and Balda Medical Verwaltungsgesellschaft which are located in Bad Oeynhausen, Germany, as well as Balda C. Brewer and Balda Precision located in California, US.
The deal also includes acquisition of Balda Medical Systems located in Romania and related operative assets. The operating units considered under the sale have more than 700 employees.
Stevanato Group expects the acquisition of Balda Medical, Balda C. Brewer, Balda Precision and Balda Medical Systems SRL which produce molded plastic components and medical devices, to complement its glass containers business to offer complete systems for pharmaceutical use.
Stevanato Group CEO Franco Stevanato said: "This acquisition is a further step towards our strategy goal to broaden our product portfolio providing integrated systems for pharmaceutical use, shifting to the higher part of the value chain."
The acquisition is a part of Stevanato's plan to strengthen core business of pharmaceutical glass containers and also to move from the glass component to the integrated system for pharmaceutical use.
Stevanato added: "Balda is considered an acclaimed plastics specialist, specifically in the area of medical technology, and possesses state-of-the-art production sites.
"We are very happy about our new Stevanato Group subsidiary and are envisioning outstanding growth potential - primarily in cooperation with our division Pharmaceutical Systems, operating under the brand Ompi."
Image: Stevanato Group has acquired the operating units of Balda Group in order to strengthen its core business. Photo: courtesy of adamr/ FreeDigitalPhotos.net.
