Montagu launches sale of medicine bottles maker Centor -sources
01/07/2015 15:38
FRANKFURT, July 1 (Reuters) - Montagu Private Equity is
preparing a sale of its healthcare packaging group Centor in a
potential up to $700 million deal, two sources familiar with the
matter told Reuters.
The British buyout group has asked Morgan Stanley MS.N to
help it find a buyer for the business which makes prescription
containers for medication dispensing, like vials, droppers,
applicators and ointment jars.
Centor is a part of a business that Montagu bought last year
from Britian's Rexam REX.L for $800 million, which sought to
focus on its beverage can business and is being bought by U.S.
peer Ball BLL.N . ID:nASM0006KU ID:nL5N0Z31WC
After the acquisition, Montagu renamed the former Rexam
prescription retail unit Centor and the Rexam healthcare devices
unit Nemera. While Rexam's management neglected the units they
have been refocused and saw business thrive under the new
ownership, the sources said.
Centor may attract interest from peers like U.S-based Berry
Plastics BERY.N or Germany-based Gerresheimer GXIG.DE as
well as buyout groups, the sources said.
Montagu, Morgan Stanley and Gerresheimer declined to
comment, while Berry was not immediately available for comment.
(Reporting by Arno Schuetze; Editing by Kirsti Knolle)
((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters
Messaging: arno.schuetze.reuters.com@reuters.net))
Keywords: MONTAGU CENTOR/SALE