As part of the transaction, existing private equity investors, Kedaara Capital AIF 1 and Olza Holdings Limited and IIFL, have fully exited their investment in Parksons and the Kejriwal family (“Founder Family”) has sold a partial stake.
Green Fin Investments B.V., an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing, has acquired a majority stake in Parksons Packaging Limited (“Parksons”). As part of the transaction, existing private equity investors, Kedaara Capital AIF 1 and Olza Holdings Limited and IIFL, have fully exited their investment in Parksons and the Kejriwal family (“Founder 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, and will drive the business going forward.
Parksons, founded in 1996, is India’s largest independent folding carton manufacturer with a highly diversified product portfolio and 300+ customers across consumer, food, pharmaceutical, and other end-markets. Through its 6 states of the art manufacturing facilities across India, Parksons has the capacity to convert more than 1,25,000 MT of paper board annually and serve its customers with best-in-class service and quality.
Being a leader in paper packaging, Parksons has consistently been at the forefront of offering innovative and sustainable packaging solutions to its customers, which has led to its robust growth since its inception. An increase in the shift towards paper packaging and a strong underlying consumption story will further accelerate the growth going forward. With strong technical understanding, end-to-end capabilities, and continuous innovation, Parksons has received several accolades from key customers for its solutions-oriented support, flexibility, and innovation. Being awarded the top 100 Great Places to Work 2020 in India, Parksons has built an excellent team of professionals and a great ethos of work culture and team spirit.
Mr. Siddharth Kejriwal, Managing Director, Parksons, said “We have had a strong collaborative relationship with Kedaara in our growth journey over the past 6 years and now we are excited to partner with Warburg Pincus in our next phase of growth. Warburg Pincus’ investment in Parksons is a testament to the strong, high-quality business we have built over the past two decades. Their unique understanding of the consumer market will help us further strengthen our position as India’s leading paper packaging solutions provider.”
Source: Business World