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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.
By
migrator
migrator
Mumbai
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 .Â
Parksons, founded in 1996, is the country’s largest independent folding carton manufacturer with a highly diversified product portfolio and over 300 customers across consumer, food, pharmaceutical and other end-markets. Parksons with its six manufacturing facilities has the capacity to convert over 1,25,000 mt of paper board annually and is the market leader in paper packaging.Â
Warburg Pincus India head Vishal Mahadevia said packaging is a great way to play the fast-growing consumption story in India.
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