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Warburg Pincus acquires majority stake in Indian carton maker Parksons
April 26, 2021
Green Fin Investments B.V., an affiliate of global PE firm Warburg Pincus, has acquired a majority stake in Indian folding carton manufacturer Parksons Packaging, according to an announcement.
As part of the transaction, Kedaara Capital, Olza Holdings and IIFL have fully exited their investment in Parksons, while the founding Kejriwal family has sold a partial stake.
Ramesh Kejriwal, Siddharth Kejriwal and Chaitanya Kejriwal will continue to retain their current positions of chairman, managing director and joint managing director, respectively.
The transaction value was not disclosed. Credit Suisse acted as the exclusive financial advisor to the sellers and its affiliates.
Synopsis
Kedaara Capital has invested Rs 200 crore in the company in 2015 to buy about 25 percent stake held by another private equity firm, ChrysCapital.
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Global private equity fund Warburg Pincus has acquired a majority stake in Parksons Packaging Limited, India’s largest independent folding carton manufacturer.
As part of the transaction, existing private equity investors - Kedaara Capital, Olza Holdings Limited and IIFL, have fully exited their investment in Parksons and the promoters Kejriwal family has sold a partial stake, said a company statement.
Ramesh Kejriwal, Siddharth Kejriwal and Chaitanya Kejriwal will continue to retain their current positions of Chairman, Managing Director and Joint Managing Director, respectively, and will drive the business going forward.
Finnish Co Huhtamäki Oyj, Warburg in race for carton maker Parksons indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Mumbai Mudrak Sangh (MMS) in collaboration with Cyber Alchemist has launched http://worldprinthub.com web portal site, a free service which will provide a common platform to meet the day-to-day printing needs of the printing packaging industries WorldPrintHub
The new initiative was inaugurated virtually on 26 January 2021, India’s Republic Day, is part of the MMS expansion programme to bring together global leaders in the print industry and support each other towards future enhancements and augmentation in the digitalisation of the industry.
Industry stalwarts like Gautham Pai of Manipal Technologies, Ramesh Kejriwal of Parksons Packaging, Bimal Mehta of Vakil & Sons and Pranav Parikh of TechNova shared the virtual stage to support the initiative.