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Blue Sea Capital sells Croatia's Piramida to Japan's Nipro arm

Blue Sea Capital sells Croatia's Piramida to Japan's Nipro arm Author: Amryt Pharma / All rights reserved.

ZAGREB (Croatia), May 4 (SeeNews) - Southeast Europe-focused private equity fund Blue Sea Capital said it sold Croatian manufacturer of glass pharmaceutical packaging Piramida to a subsidiary of Japan's medical equipment producer Nipro Corporation for an undisclosed sum.

The acquisition will be carried out by Belgium-based Nipro Pharma Packaging NV, Blue Sun Capital said in a statement on Monday.

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Sesvete-based Piramida manufactures glass ampoules and vials. The company produced more than 500 million ampoules and vials in 2020.

Piramida has doubled its production capacities and revenues and increased its headcount by 35% since the acquisition by Blue Sea Capital in 2012, the fund said.

Nipro Corporation, active in the pharmaceutical, medical device and pharma packaging industries, generates more than $4 billion (3.3 billion euro) in annual revenues. It employs over 33,000 people.

($ = 0.8332 euro)

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