‘The deal was signed in the range of 200-250 crore INR, said people in the know. The combined entity will have revenue of around 1,500 crore INR in FY22,’ Economic Times reported in an article. Following the transaction, Manohar Packaging CEO Aditya Patwardhan will remain at the company as part of its management team. Patwardhan said: ‘This is an outstanding opportunity to
India's largest folding carton manufacturer, Parksons Packaging, has acquired Manohar Packaging's 100% operations. The acquisition includes Manohar's Goa and Punjab plants and is part of Parksons' inorganic growth. Manohar Packaging will now be a wholly-owned subsidiary of Parksons.
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Warburg acquires majority stake in Parksons Packaging US-based private equity firm Warburg Pincus’ affiliate Green Fin Investments BV has acquired a majority stake in Mumbai-based folding carton giant Parksons Packaging. Siddharth Kejriwal: We are excited to partner with Warburg Pincus in our next phase of growth
As part of the transaction, the company’s existing private equity investors Kedaara Capital AIF 1, Olza Holdings and IIFL have completely exited their investment in Parksons; the Kejriwal family (founder family) has sold a partial stake.
Ramesh, Siddharth 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. Credit Suisse acted as the exclusive financial advisor to the sellers and its affiliates.