China Jianyin Investment (JIC), a long-term investor, has entered into exclusive discussions to acquire SGD Pharma.
Jürgen Sackhoff, President of SGD Pharma, welcomed the move, and said: “The combination with JIC will open exciting new growth opportunities for us in Asia.”
SGD Pharma is a global producer of primary glass packaging for the pharmaceutical industry. It was acquired by Oaktree financial group in 2010.
SGD’s perfumery manufacturing business has been a separate company to SGD Pharma since 2015 and will not be affected by the acquisition of SGD Pharma.
SGD Pharma manufactures moulded and converted primary glass packaging for the pharmaceutical industry with an expertise developed for more than 100 years. It is headquartered in Paris La Défense, France.
Following Oaktree's acquisition of SGD Pharma in 2010, the company was able to expand its leadership in high end type I glass containers, supported by its new production site in Saint Quentin, France and the acquisition of the Indian company Cogent Glass.
Further to the completion of the demerger of the perfumery glass packaging operations in 2015, SGD Pharma is now focused on products dedicated to the largest pharmaceutical companies worldwide.
The company operates five manufacturing sites in France (two plants), Germany, India and China and employs 2,750 people around the globe.
JIC has an in-depth understanding of SGD Pharma’s development plans and will support the significant investments across industrial facilities to enhance its production capacities, and to grow its business worldwide sustainably.
Mr. Sackhoff added: "We are keen to welcome JIC as our proposed new shareholder, as they are a long-term investor which fits extremely well with our business model and strategic roadmap.
“This will benefit our employees in France and around the globe, our customers and partners. I am very excited about the future of SGD Pharma with JIC being the new shareholder.
The proposed transaction will be submitted to the relevant workers’ council of SGD Pharma and will be subject to competition and other regulatory approvals.