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Vision Capital announces Bormioli Rocco sale agreements July 2017

Vision Capital is pleased to announce that Bormioli Rocco S.p.A., a wholly‐owned subsidiary of Bormioli Rocco Holdings S.A., the international pharmaceuticals and tableware manufacturer, has entered into separate agreements to sell its pharmaceutical business to funds advised by Triton and its tableware business to Luigi Bormioli, respectively. On completion, this transaction will represent the successful realisation of Vision's investment in Bormioli Rocco.

Vision Capital acquired the business along with a number of smaller assets in 2011 as part of a portfolio transaction from Banco Popolare, driving significant transformation to reposition the business as a more profitable and focussed company.

During its ownership by Vision Capital, Bormioli completed the merger of its Plastic and Glass Products businesses to form a streamlined Pharmaceutical packaging group, and acquired Neuborglass in 2013 to reinforce its production footprint. The Food & Beverage and Perfumery divisions were sold to trade buyers, refocusing the group. Bormioli has also achieved substantial operational improvements in production operations, purchasing, supply chain, product rationalisation, and sales and marketing, with the benefit of significant capital investment.

Julian Mash, CEO of Vision Capital, said: "Through Vision Capital's active ownership, along with Bormioli management, we have executed a well‐defined strategic plan and delivered strong financial growth, resulting in both the Pharma and Tableware businesses achieving record profitability in 2016. We are confident the two units will continue to flourish under the ownership of Triton and Luigi Bormioli."

Vision Capital is a limited liability partnership | Registered in England number: OC336240 | Authorised and regulated by the Financial Conduct Authority