ACG buys Croatian capsule firm

ACG Worldwide, one of world's largest pharmaceutical machinery and capsule manufacturers, has acquired Croatia-based Lukaps, which manufactures capsules.

This is the first investment by an Indian company in Croatia, said Ajit Singh, chairman, ACG Worldwide. Our customer base is increasing in Europe and Russia and the acquisition will help quick deliveries of hard gelatin capsules in Europe and the Russian region, he said on the sidelines of the CPhI Worldwide pharmaceutical exhibition at Milan.

He declined to reveal the size of the acquisition. The 25-year-old Lukaps is the largest capsule maker in Eastern Europe and can produce over 2.5 billion capsules per annum.

ACG would soon triple its capacity with additional investments, said company sources.

The company employs about 100 people and has a turnover of about ¤ 4-5 million. ACG Worldwide has bought 100 per cent equity stake in Lukaps.

ACG Worldwide is a grouping of about six companies, led by Associated Capsules - the world's largest gelatin capsule producer in the world. ACG is also one of the largest manufacturers of pharmaceutical machinery.

The company has a string of technology collaborations with global pharma machinery makers such as Alcan, Brimrose, Honeywell, Proditec, Sarong and Pactech and exports to all over the world.

ACG is also talking to manufacturers in the US and Italy for joint ventures or technology transfer to manufacture more sophisticated machines, said Ajit Singh.