Manohar’s deep sector expertise and long-standing relationships with its marquee customer base brings significant synergies to Parksons’ domain expertise and depth of services.
Warburg Pincus backed Parksons Packaging Limited, India’s largest independent folding carton manufacturer, today announced the acquisition of Manohar Packaging, a leading producer of folding cartons with a strong foothold in the premium segments of Alcoholic Beverages and Confectionery.
Manohar Packaging, founded in 1994, is one of India’s top producers of carton packaging and the industry leader in the alcoholic beverages segment. Manohar’s deep sector expertise and long-standing relationships with its marquee customer base brings significant synergies to Parksons’ domain expertise and depth of services.
Through 2 state of the art manufacturing facilities across India, Manohar Packaging has the capacity to convert more than100 a million sheets annually and serve its customers.
The plants bring high strategic value to Parksons Packaging and are significantly scalable for future growth. Parksons’ pan-India footprint through its 6 manufacturing plants located across Daman, Chakan, Pantnagar, Guwahati and Sricity combined with Manohar’s presence in Goa and Punjab, will further enhance the combined company’s reach and serve customers effectively across the country.
Commenting on the acquisition Siddharth Kejriwal, Managing Director, Parksons Packaging said, “Parksons has consistently been at the forefront of delivering high service quality and innovation to our customers. Adding Manohar’s depth of services and domain expertise strengthens our offerings in the Food & Beverage segment and increases our footprint in North and West India.”
Aditya Patwardhan, CEO, Manohar Packaging said, “This is an outstanding opportunity to continue our growth journey as part of Parksons and build the country’s leading folding carton manufacturer. Based on Parksons’ values, core capabilities, excellent brand reputation, and backing by Warburg Pincus, it’s a natural fit that reinforces our long-term vision and relationships with customers.”
Source: Business World