your password has been reset successfully, Please login again.

US-based Advent International buys Manjushree Technopack

As part of the deal, Advent purchased entire 40% stake held by Indian PE firm Kedaara Capital and a portion of the promoters Kedia family's stake in Manjushree Technopack.
BY BEx Bureau
BusinessEx
Oct 12, 2018

US-based Private equity (PE) firm Advent International has acquired Manjushree Technopack Ltd., India's largest rigid plastic packaging solution provider.

As part of the deal, Advent purchased entire 40% stake held by Indian PE firm Kedaara Capital and a portion of the promoters Kedia family's stake in Manjushree Technopack.

Vimal Kedia, Founder and Managing Director of Manjushree, and the rest of the company's senior management team will remain with the company

Vimal Kedia said,"We appreciate the support we've received from Kedaara over the past three years in promoting new business development, strengthening the management team, streamlining sales management processes and driving geographic expansion to build a pan-India presence. Now, we look forward to partnering with Advent, a leading global investor with strong knowledge of the Indian market and experience in the consumer packaging sector. With the Indian rigid packaging industry expected to double (in size) over the next few years, we will look to further strengthen our foothold. Through our new partnership, we will focus on consolidating our leadership position and taking the company to new growth levels."

Shweta Jalan, Managing Director and Head, India, Advent International, said, "The rigid plastic packaging market is expected to expand by 15% per year over the next five years, driven by underlying growth in consumer-end markets, the continued shift from glass and paper to plastic packaging, and the introduction of new products. Manjushree Technopack is the market leader in an industry with strong growth tailwinds."

Please add your Comment
SIMILAR News
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 19, 2018
Ananth Narayanan, Chief Executive Officer of Myntra, will continue to lead the team. ...More
By Vaishnavi Gupta
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta
November 09, 2018
The acquisition is in line with the company's strategy to boost the value for its stakeholders throu ...More
By Vaishnavi Gupta
November 03, 2018
Viithiisys, with this acquisition, will expand its product portfolio and list of clients. ...More
By Vaishnavi Gupta
November 02, 2018
Post acquisition, W12 Studios will be a part of TCS Interactive, the digital division of the IT serv ...More
By Vaishnavi Gupta
November 01, 2018
The fresh funds will be used by Turms to expand its product categories, hire tech talent and launch ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta