It is now officially confirmed that after a major race where also Bain Capital were involved, finally private equity major Blackstone has won the deal to acquire Piramal Group’s Piramal Glass for around $1 billion.
The deal includes an upfront payment of $850 million while Piramal Group will get approximately $150 million on achieving certain milestones, to be paid over 2 years.
Piramal Group had completed another billion dollar deal, when they had sold US-based DRG for around a billion dollars. Bloomberg Quint can be cited that In June, the group agreed to sell a 20% stake in its Piramal Pharma Ltd. arm to private equity firm Carlyle Group Inc. for $490 million, giving the business an enterprise value of $2.7 billion.
About Piramal:
Piramal Glass is a global specialist in design, production, and decoration of premium glass packaging. They are the largest specialty glass player in Asia and have been the fastest growing glass packaging company in the world for more than a decade. They are one of the only significant players from Asia with a very significant presence in the premium glass-packaging segment. Piramal Glass has a daily production of 1,475 tons of container glass packaging per day in its different facilities spread over India, Sri Lanka and the USA and also operates facilities for decoration.
We have four manufacturing facilities; one in the USA, one in Sri Lanka, and two in India with an overall capacity of 1475 tonnes per day (TPD) with 12 furnaces and 65 production lines. We also design, produce and decorate specialized glass packaging for the global cosmetics, perfumery, skin-care, food, and beverage industry.
Kosamba, India
At Kosamba, India facility, we produce USP Type I, II, and III glass Bottles and Vials for the pharmaceutical industry, Type III glass bottles for Cosmetics & Perfumery industry, and also Feeder-Coloured bottles in various shades. Here we have a dedicated facility for Type-I borosilicate glass for moulded pharmaceutical glass packaging and a dedicated facility for premium Cosmetics & Perfumery glass bottles. Our in-house Decoration Unit, ANSA Deco Glass, is also present at this location.
Jambusar, India
At Jambusar, India facility, we have one of the world’s largest single installed capacities for pharmaceutical packaging in amber-glass. In this facility, we produce Type III amber-glass bottles and vials pharmaceutical industry. And Type III flint bottles for the Pharmaceutical, Cosmetics & Perfumery, and Specialty Food & Beverage industry.
Park Hills, USA
At Park Hills, USA facility, we produce Type III flint bottles, for the Cosmetics & Perfumery and Specialty Food & Beverage industry. There is an infrastructure to produce Feeder-Coloured bottles in various shades. All lines have inspection machines and hot and cold end coating facilities. We have in-house mould design and manufacturing workshop. The glass bottle decoration facility is located at Williamstown, New Jersey.
Horana, Sri Lanka
At Horana, Sri Lanka facility, we produce Type III flint and amber glass bottles for the Pharmaceutical, Cosmetics & Perfumery, and Specialty Food & Beverage industry. There is an infrastructure to produce Feeder-Coloured bottles in various shades and a dedicated in-house glass bottle printing facility in this facility.
11.12.2020, Piramal Group / Blackstone
News material on the Site is copyright and belongs to the Company or to its third party news provider, and all rights are reserved. Any User who accesses such material may do so only for its own personal use, and the use of such material is at the sole risk of the User. Redistribution or other commercial exploitation of such news material is expressly prohibited. Where such news material is provided by a third party, each User agrees to observe and be bound by the specific terms of use applying to such news material. We do not represent or endorse the accuracy or reliability of any of the info contained in any news or external websites referred to in the news.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.