Investcorp, a global alternative investment firm has announced an investment of ₹340 crore (~$41 million) in Canpac Trends, a provider of paper-based packaging solutions. The transaction will also provide a partial exit to JM Financial India Fund II which has been invested in Canpac since 2021.
This investment will help Canpac expand its production footprint to all major manufacturing hubs of the country. Additionally, these funds will be utilised to accelerate growth via acquisitions and strengthen its R&D initiatives.
Nilesh Todi, Founder of Canpac Trends, said, “This investment comes at a vital point in our growth journey as we continue to expand our presence across India. This funding round will help us scale up our manufacturing and sales capabilities.”
Canpac offers folding cartons to industries like fashion and retail, food and food services, FMCG, and industrial products. The company also provides paper bags, luxury boxes, corrugated cartons, and flexible laminate solutions. Canpac has 4 modern manufacturing plants across three cities - Ahmedabad, Kolkata and Tiruppur.
Gaurav Sharma, Head of India Investment Business, Investcorp, said, “Paper packaging champions sustainability, a key Investcorp priority for each one of our investments across all our geographies.”
Reporting by BL Intern Sanjana B