# Intertape Polymer Group acquires majority stake in Capstone Polyweave in India

Intertape Polymer Group agreed to acquire a minimum 55% interest in Capstone Polyweave Private Limited for approximately $13 million. The partnership is expected to lead to a greenfield manufacturing facility costing about $30 million.

- Type: Acquisition
- Announced: 2017-06-15
- Where: India, India
- Value: $13.0M
- Status: announced
- Products: woven products
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Intertape Polymer Group](https://endata.com/companies/3611.md) (acquirer)
- [Capstone Polyweave Private Limited](https://endata.com/companies/24931.md) (target)
- [Airtrax Polymers Private Limited](https://endata.com/companies/24932.md) (partner)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2017/06/15/1460798/0/en/intertape-polymer-group-ipg-r-enters-strategic-partnership-through-capstone-r.html), 2017-06-15: "The principal purpose of the Capstone partnership will be to provide IPG with a globally-competitive supply of certain woven products in order to better service and grow IPG's woven products business."
- [catchnews.com](https://www.catchnews.com/business-economy-news/shardul-amarchand-mangaldas-advises-capstone-polyweave-on-strategic-partnership-with-intertape-polymer-group-65905.html), 2017-06-17: "IPG will ultimately acquire a 55 percent interest in Capstone for a cash consideration of approximately USD 13 million."

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