Tampaco Foils is claimed to be a leader in the country’s flexible and tobacco packaging industry. Credit: Marc Bruxelle via Shutterstock.

Ispahani Group, a Bangladeshi conglomerate, has teamed up with packaging company Tampaco Group to expand its packaging business, the Financial Express reported.

As part of this partnership, Ispahani has acquired a minority stake in Tampaco Foils, a subsidiary of Tampaco Group.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The agreement was signed by the companies at the head office of Bangladesh’s merchant bank UCB Investment in Dhaka, the country’s capital.

Details regarding the exact percentage of stake purchased and the equity investment made by Ispahani have not been disclosed by either company.

Ispahani chair Mirza Salman Ispahani was quoted by the publication as saying: “Tampaco Foils boasts a distinct presence, goodwill, and advanced technology in Bangladesh’s growing packaging industry.

“We are committed to supporting Tampaco to develop world-class sustainable packaging solutions.”

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.

Ispahani is headquartered in Chittagong and operates in a wide variety of sectors such as textiles, property, poultry, and shipping.

Tampaco Foils meanwhile, is considered one of the leading flexible and tobacco packaging companies in Bangladesh.

The strategic partnership is expected to help improve corporate governance, build value, and drive growth within the country’s packaging sector.

Tampaco Group managing director and Bangladesh Flexible Packaging Industries Association president Safius Sami Alamgir was quoted as saying: “Ispahani brings invaluable market experience, financial resources, and extensive business expertise to Bangladesh’s rapidly growing packaging industry.

“This partnership not only provides us with the means to enhance our expansion and investment initiatives in the packaging sector but also opens doors to growth in related industries.”