French pharmaceutical glass manufacturer SGD Pharma is be sold to a European private equity organisation.

SGD Pharma’s owners China Jianyin Investment (JIC) are in final negotiations with PAI Partners over the deal.

JIC acquired a majority shareholding in SGD Pharma in November 2016.

Christophe Nicoli, Chief Executive Officer of SGD Pharma, says: “By investing in cutting-edge manufacturing technologies, in taking the lead on sustainability and through constantly improving the service level it offers to its clients, the SGD Pharma teams have built a solid platform for performance and growth under JIC’s ownership.

“We are now thrilled to contemplate the next stage of SGD Pharma’s development with PAI - an experienced and supportive partner.”

Laurent Rivoire, a Managing Partner at PAI Partners, said: “We look forward to finalising the acquisition of SGD Pharma from JIC.

“We have closely followed the development of SGD Pharma over the years and have been impressed by the progress made under the leadership of a talented management team.

“From this solid base, our ambition is to accelerate SGD Pharma’s growth trajectory through organic and external initiatives, mobilising PAI’s resources and expertise in the packaging and healthcare industries”.