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Manjushree Technopack, backed by PAG, is reportedly in talks to acquire four to five packaging assets for a combined $150-180 million, with two deals in advanced stages, according to people familiar with the matter.
Manjushree Technopack has signed definitive agreements to acquire the plastics packaging business of Oricon Enterprises (Oriental Containers), a maker of plastic caps, closures and preforms. The deal is valued at INR 520 crore and adds plants in Goa and Odisha, subject to customary conditions.
Manjushree Technopack (MTL), a rigid plastic packaging maker backed by Advent International, signed a collaboration with the bottle-to-bottle recycling division of Ganesha Ecosphere Group to co-develop and supply food and non-food packaging made from up to 100% recycled plastic in India.
Manjushree Technopack has launched a new greenfield rigid plastic packaging plant in Silvassa, western India, with capacity of 10,000 MTPA and an investment of INR 100+ crore.
In 2018, Advent International acquired a 77% stake in Indian rigid plastic packaging maker Manjushree Technopack from Kedaara Capital and the promoters. The deal value was not disclosed.
Manjushree Technopack launched a two-compartment PET fusion jar for Tata Global's Tata Tea Fusion, storing two tea types in one pack, reported as the first such jar by an Indian FMCG company.
