Warburg Pincus is in advanced discussions with KPS Capital Partners to jointly pursue a potential acquisition of Gerresheimer AG, the German-listed specialist in pharmaceutical and cosmetics packaging, according to a report by Bloomberg citing people familiar with the matter.
The consortium is reportedly weighing an offer in the range of €70+ per share, valuing Gerresheimer at a premium to its current market valuation of approximately €2.2bn. Shares in the Düsseldorf-headquartered business rose as much as 9% following the news and were trading at €64.95 on Wednesday afternoon.
KPS is said to have a particular interest in Gerresheimer’s moulded glass division, while Warburg Pincus is believed to be pursuing broader strategic synergies across the business.
Sources note that no final decision has been made and the situation remains fluid, with potential challenges around valuation and the operational complexity of the company’s two distinct business lines.
Gerresheimer has long attracted interest from private equity, given its diversified operations across drug delivery systems – including syringes, injectors, and wearable devices – and consumer-facing packaging for cosmetics and personal care.
The company has been exploring strategic alternatives for its moulded glass segment since 2023.
Warburg Pincus, which oversees more than $87bn in assets globally, continues to remain active despite market headwinds. Recent transactions include a $570m investment in IDFC First Bank in India and the sale of Sundyne to Honeywell for $2.16bn. It also partnered with Berkshire Partners in a $3bn take-private of Triumph Group earlier this year.
KPS, headquartered in New York, manages close to $20bn and maintains a strategic focus on industrial and manufacturing businesses.
