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Blue Sea Capital, a regional private equity fund, has successfully completed the sale of its 100% ownership stake in Piramida, a leading Croatian manufacturer of glass pharmaceutical packaging, to Nipro PharmaPackaging International NV, a subsidiary of Nipro Corporation headquartered in Japan.
Croatian company Piramida manufactures glass ampoules and vials, which are the packaging solutions used by the pharmaceutical industry. The special role of pharmaceutical glass packaging is being further highlighted during the current global COVID-19 pandemic, as vaccines are primarily packaged in glass vials. Moreover, the company is now ranked in the top five largest glass ampoule manufacturers for the pharmaceutical industry in the European market.
Tokyo Stock Exchange-listed Nipro Corporation generates more than USD 4 billion in annual revenues, employs over 33,000 people, and serves the Pharmaceutical, Medical Device, and Pharma Packaging Industries.
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