#manjushree technopack

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PAG to acquire Manjushree Technopack for Rs 8,400 crore

Asia-Pacific-focused alternative investment firm PAG will acquire a majority stake in Manjushree Technopack, India’s largest rigid plastic packaging solution company, for Rs. 8,400 crore (approximately US$ 1 billion). The deal to acquire Manjushree Technopack will be PAG’s third billion-dollar deal this year and the largest it has done in India.

PAG considers the Asia Pacific region to be one of the fastest growing regions and by alternative investment, it looks at off-market opportunities. It has US$ 55 billion under management by over 300 global institutional investors. It manages four pan-Asian buyout funds and two growth funds with US$ 19 billion of capital under management and investments of over US$ 3 billion across various business sectors in India since 2009. Since the founding of its office in the country under the leadership of Nikhil Srivastava in 2019, it has so far invested US$ 1.7 billion.

Manjushree Technopack was established in 1979 and started its plastic container manufacturing operations in Bangalore in 1987. It has 20 plants across India for manufacturing plastic bottles and jars and PET hot-fillable bottles and pre-forms used by the food, beverages, pharmaceutical, cosmetic, agricultural chemicals, automotive lubricants, and numerous other consumer and industrial segments. The company says that its clients number over 110,000. It reported a revenue of  Rs 2,130 crore in FY24, which is up from its reported revenue of Rs 2,096 crore in FY 2023 and RS 1,474 crore in FY22. It has an annual installed capacity of plastic containers and related materials of approximately 213,000 metric tons.

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Manjushree Technopack to acquire plastics packaging business of Oricon Enterprises

The Bengaluru-headquartered rigid plastics packaging manufacturer Manjushree Technopack Limited has entered into definitive agreements to acquire the plastics packaging business of the Mumbai-based Oricon Enterprises Limited. 

Oriental Containers is the packaging division of Oricon Enterprises and one of the largest manufacturers of plastic caps & closures and preforms, used in beverages in India.

This deal, for an enterprise value of Rs 520 crore, is expected to double Manjushree's current market share in the caps and closures segment, making it the market leader, with an installed capacity of nearly 15 billion pieces per annum, Moneycontrol reported. 

The acquisition includes two manufacturing plants in Goa & Odisha, which will augment MTL’s existing production capacity. 

The combined business will have a wider array of molds, machines and SKUs, and will strengthen unit economics due to operational synergies as well as deepening key customer relationships. The acquisition will help augment capacity in the preforms segment, where MTL is a market leader.

The acquisition is subject to completion of customary conditions, including corporate approvals of Oricon Enterprises Limited.

Moneycontrol quoted Thimmaiah Napanda, MD and CEO of Manjushree Technopack Limited, as saying that the company is excited to bring Oriental Containers under its ownership. 

“While we are already the market leaders in three out of the five segments we operate in (preforms, containers, caps and closures, pumps and dispensers, and recycling), this transaction will make us the clear leader in four segments. This strategic move underscores our dedication to delivering unparalleled quality and value to our customers and supporting them as a fully integrated partner for both growth and business continuity planning. I am thrilled at the prospect of successfully integrating the business and the significant growth opportunities this opens up for us as we look to expand further over the coming period,” Napanda said.

Adarsh Somani, MD and promoter of Oricon Enterprises, said, “Oriental Containers was nurtured by my father late Rajendra Somani, who pioneered the manufacturing of plastic closures for beverages industries through compression molding technology for the first time in India. Under the vision of my father and a committed professional team, we have moved strength to strength and created a leadership position backed by our impeccable quality, innovation, services and state-of-the-art infrastructure. Our business will complement MTL’s existing portfolio and help MTL achieve market leadership in the closures space as well as get a strong foothold in eastern India.”

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Manjushree Technopack acquires Pearl Polymers

Bangaluru based Manjushree Technopack (MTL), India’s largest rigid plastics packaging company backed by Advent International, announced entering into a Business Transfer Agreement with Pearl Polymers to acquire commercial operations and manufacturing facilities of their B2B vertical. This transaction is subject to customary closing conditions and regulatory approvals.

According to the press relesae, Manjushree was advised by Khaitan on this deal while Pearl Polymers was advised by JSA. Ernst & Young Global (EY) was the exclusive financial advisor to Pearl Polymers.

With over 40 years of packaging expertise in India, Manjushree Technopack fulfills the packaging requirements of the FMCG, food and beverage, home care, personal care, agrochemicals, pharmaceutical, liquor industries, and works with some of the biggest brands in these segments. These include Coca Cola, PepsiCo, Cadbury, GlaxoSmithKline, Procter & Gamble, Nestle, Heinz, Unilever, Tata Consumer Products, Marico, USL, Diageo, and many more. Manjushree has a manufacturing capacity of 1,75,000 MT per annum and a turnover of over Rs 1100 crore.

According to the press statement, Pearl Polymers’ B2B business's proposed acquisition will help MTL consolidate their leadership position in the container segments while reinforcing its technical strength.

Sanjay Kapote, chief executive officer of Manjushree Technopack, said, “The acquisition announced is in line with our strategy to grow and diversify our business. Acquiring the B2B business from Pearl Polymers will allow us to consolidate our leadership position in the rigid packaging sector. We expect a seamless integration of the acquired business with the rest of the MTL group given the success we have achieved in our acquisitions to date. The proposed acquisition is in line with Manjushree’s aggressive inorganic growth plans. Manjushree aspires to be the employer and partner of choice, we will continue delivering deep value for our customers, post consummation of the transaction.”

“The combination of our technological strength, product range and geographical spread with Pearl Polymers’ robust container business will help us deliver an extended containers portfolio and areas of expertise to our customers in the future,” he added.

Chand Seth, chief managing director of Pearl Polymers, said – “Pearl polymers is the pioneer and was instrumental in creating the market for PET packaging in India. With its customer spread across India and in every segment of the market, we believe that this acquisition will bring great value. Our clients will continue to receive the same high-quality services that they have come to expect for the last 36 years. This deal will allow us to focus and grow the well-known PearlPET brand to new levels. We expect to launch many new product lines in the future.”

With the consummation of the proposed transaction, Manjushree will have access to four of Pearl Polymers’ production units and serve Pearls’ existing customer base, including marquee clientele in the FMCG, liquor, and pharma segments.

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Manjushree Technopack announces recycling packaging plant; to collaborate with FMCG industry - ET Retail

Manjushree Technopack announces recycling packaging plant; to collaborate with FMCG industry – ET Retail

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New Delhi: Packaging company Manjushree Technopack, which caters to multiple consumer goods companies including Reckitt Benckiser, Procter & Gamble, Nestle and Coca-Cola, on Monday announced the commencement of its first recycled packaging plant, a move it said was aimed at collaborating with the FMCG industry to step up eco-friendly packaging.

The company said it will replicate the…

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