German manufacturer Gerresheimer AG, which produces specialty products made of glass and plastic for pharmaceutical and healthcare industries, has acquired a 75 per cent stake in India's Triveni Polymers Pvt. Ltd.

Without disclosing the amount of the deal, Gerresheimer said the acquisition would accelerate its growth in emerging countries.

Triveni said the deal would enable them to better support their customers. Confirming the deal, Triveni's Managing Director Subodh Gupta said, "Triveni special product portfolio ideally complements Gerresheimer's plastic packaging range and will enable us to better support our customers in their business."

The German manufacturer also declared that Subodh Gupta would keep on serving Triveni as its managing director. For the previous fiscal year, Triveni reported revenue of around Rs 130 crore.

Gerresheimer, which has a workforce of nearly 10,000 people, operates at nearly 47 locations in Europe, North America, South America and Asia. It operates five plants in South America and six in China. Following the recent acquisition, it has two plants in India.

The German manufacturer aims to double its revenues in the emerging markets from EUR100 million in 2010 to EUR200 million in 2013.

The transaction is expected to be completed by the end of this month.