JK Paper, one of lndia’s largest Paper and Packaging Solutions Companies, enters into Share Purchase Agreement (SPA) for the acquisition of 100% shares of Manipal Utility Packaging Solutions Private Limited (MUPSPL).
MUPSPL is engaged in the business of manufacture of Packaging products like Folding Cartons, Corrugated Boxes and Labels with Four (4) manufacturing plants across the country and had a revenue of Rs. 147 .77 Crores in FY 2022-23, as per the statement.
Packaging business is amongst the fastest growing segment in the lndian Paper and Packaging industry driven by growth in end-use industries such as Food & Beverage, FMCG, etc. MUPSPL’s customers, employees, vendors and partners will benefit from JK Paper’s strong knowledge of manufacturing, and its high standards in operational excellence, financial management and corporate governance, according to the statement.
Speaking on the occasion, Harsh Pati Singhania, Vice Chairman and Managing Director, JK Paper Ltd. said, “This acquisition is in line with the longterm strategic objective of the Companv in the Packaging business and gives us an opportunity to offer combined solution to the customers with respect to Secondary and Tertiary packaging, improve operational efficiencies and ensure that MUPSPL grows and adds value to stakeholders.”
