Japan-based packaging company Nipro PharmaPackaging has acquired Croatian glass pharmaceutical packaging manufacturer Piramida.
Nipro said that the acquisition of Piramida and its yearly capacity in excess of 500 million glass containers, it is now able to cater to the market needs in Central Europe.
Under the ownership of Blue Sea Capital private equity fund, Piramida enjoyed a modernisation of its facilities, welcomed eight new production lines, and witnessed a strong development of its ampoules and vials business.
Moreover, production capacity as well as the revenue doubled. This led the company being ranked among the top five largest ampoule manufacturers for the pharmaceutical industry in the European market.
Nipro president Yoshihiko Sano 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.”
Piramida CEO Kresimir Sečak said: “Our management team is looking forward to working with Nipro to further advance Piramida’s position in the European and global markets.”