Warburg snaps up majority stake in packaging Co
Global private equity major Warburg Pincus has picked up a controlling stake in folding carton manufacturer Parksons Packaging by buying out the existing private equity investors, Kedaara Capital, Olza Holdings and IIFL, for an undisclosed amount.
The transaction is through Green Fin Investments BV, an affiliate of Warburg Pincus, an entity focused on growth investing. The deal also included the promoters, the Kejriwal family, selling a part of their stake in the company. However, Ramesh Kejriwal, Siddharth Kejriwal and Chaitanya Kejriwal will continue to retain their current positions of chairman, MD and joint MD, respectively, the companies said in a statement .