Italian pharmaceutical glassmaker Bormioli Pharma is planning an acquisition.

It has issued a binding offer for the entire acquisition of GCL Pharma, an Italian subsidiary of Guala Closures Group, which manufacturers closures for pharmaceutical applications.

GCL Pharma is based in Vasto, Chieti, Italy and recorded a turnover of €8 million in 2019.

The aggregate purchase price offered for the acquisition is €8.9 million.

Andrea Lodetti, CEO of Bormioli Pharma, said: “We aim to strengthen our industrial footprint by adding new technologies that allow to extend our product range, especially in the oral and parenteral segments, activating further business synergies.”

The acquisition is expected to be completed in the next few weeks.