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Warburg Pincus backed-Parksons Packaging Ltd on Monday said that it has acquired leading producer of carton packaging, Manohar Packaging. It has a strong presence in the alcoholic beverages and confectionery packaging segment, and the acquisition will help Parksons Packaging strengthen its pan-India footprint.
The company did not reveal commercials associated with the deal.
Siddharth Kejriwal, Managing Director, Parksons Packaging said, "Parksons has consistently been at the forefront of delivering high service quality and innovation to our customers. Adding Manohar's depth of services and domain expertise strengthens our offerings in the Food & Beverage segment and increases our footprint in North and West India."
Founded in 1994, Manohar Packing is one of India’s top producers of carton packaging and the industry leader in the alcoholic beverages segment. “Manohar’s deep sector expertise and long-standing relationships with its marquee customer base brings significant synergies to Parksons’ domain expertise and depth of services.,” the statement added.
Through 2 state -of -the- art manufacturing facilities across India, Manohar Packaging has the capacity to convert more than 100 million sheets annually and serve its customers.
“The plants bring high strategic value to Parksons Packaging and are significantly scalable for future,” it added.
Parksons Packaging has six manufacturing plants located across Daman, Chakan, Pantnagar, Guwahati ,and Sricity combined with Manohar's presence in Goa and Punjab, which will further enhance the combined company’s reach and serve customers effectively across the country, said Kejriwal.
Aditya Patwardhan, CEO, Manohar Packaging said, "This is an outstanding opportunity to continue our growth journey as part of Parksons and build the country's leading folding carton manufacturer. Based on Parksons' values, core capabilities, excellent brand reputation, and backing by Warburg Pincus, it's a natural fit that reinforces our long-term vision and relationships with customers."
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