US-based private equity company Advent International is reportedly pursuing the acquisition of a majority ownership of Indian packaging solutions provider Manjushree Technopack, in a transaction valued at Rs23bn ($330m).

Media reports revealed that Advent will acquire private equity firm Kedaara Capital’s 24% stake and promoter Vimal Kedia’s interest in the polyethylene terephthalate (PET) manufacturer.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Following the sale, Kedia will retain a minority stake in the company.

Advent emerged as the frontrunner to acquire controlling stake in Manjushree, beating competition from other aspirants such as KKR, Carlyle, Thailand’s SCG, US-based firms IPG and Graham Packaging.

“Manjushree serves several FMCG industry verticals, including dairy, liquor, food products, agro chemicals, pharmaceuticals, home care and personal care.”

Manjushree’s clientele includes GlaxoSmithKline, Coca-Cola, Nestle, Mondelez, PepsiCo, Reckitt Benckiser, Bacardi, Ranbaxy Laboratories, Perfetti Van Melle, Pfizer, and Amway.

With an installed capacity of more than 125,000mt per annum, the company operates seven manufacturing units.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Established in 1983, the company posted revenues of Rs9.8bn-10bn ($140m-$143m) for the fiscal year 2018.

Manjushree serves several FMCG industry verticals, including dairy, liquor, food products, agrochemicals, pharmaceuticals, home care and personal care.

The company has a portfolio of more than 1000 custom and stock products, selling to FMCG multinationals across India and 15 other countries.

It offers solutions including injection stretch blow moulding for PET bottles, extrusion blow moulding for HDPE/PP bottles including angular neck bottles, barrier co-extrusion moulding and injection moulding.

The proposed deal is reportedly set to become the biggest acquisition in the Indian packaging industry after Finland-based company Huhtamaki purchased Positive Packaging in 2014 for $336m.