# Rengo acquires 30% stake in Indian packaging maker Velvin Containers

Japanese paper and packaging manufacturer Rengo acquired a 30% interest in Indian corrugated packaging manufacturer Velvin Containers, which will be renamed Velvin Rengo Containers. Financial terms were not disclosed. Velvin is developing a corrugated plant near Chennai.

- Type: Acquisition
- Announced: 2023-11-17
- Where: Chennai, Tamil Nadu, India
- Status: completed
- Products: corrugated packaging, paper bags, paper cups
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Rengo](https://endata.com/companies/1314.md) (acquirer)
- [Rengo](https://endata.com/companies/1314.md) (partner)
- [Velvin Group](https://endata.com/companies/11243.md) (partner)
- [Velvin Containers](https://endata.com/companies/11246.md) (target)

## Sources

- [packaging-gateway.com](https://www.packaging-gateway.com/news/rengo-velvin-containers-acquisition/), 2023-11-17: "Paper and packaging products manufacturer Rengo has acquired a 30% interest in Indian corrugated packaging manufacturer Velvin Containers."
- [thepulpandpapertimes.com](https://thepulpandpapertimes.com/news/-velvin-group-forms-957), 2023-11-21: "Due to Rengo's 30% equity participation, the company will change its name from 'Velvin Containers Pvt Ltd' to 'Velvin Rengo Containers Private Limited.'"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.