Parksons Packaging has appointed Credit Suisse as its investment banker for the transaction, which is likely to be concluded in the next three months.
February 4, 2021
According to the media reports, Bain Capital is in talks to buy the Indian packaging company Parksons Packaging Ltd. for more than INR 3000 crore.
The Daman-based Parksons Packaging — India’s largest independent folding carton manufacturer that also makes paper-based labels, leaflets and corrugated boxes, recorded INR 500 crore revenue in 2019-20. Kedaara Capital purchased a significant minority stake worth INR 200 crore in the company in 2015.
Parksons has steadily ramped up its business over the past three years and the pandemic has pushed up demand for packaging. The discussion for a complete sell-off of Parksons is in advanced stages. Kedaara will also get an exit — as reported in a leading daily.
Parksons has appointed Credit Suisse as its investment banker for the transaction, which is likely to be concluded in the next three months. However, queries emailed to Parksons and Bain Capital remained unanswered.
Also Read: India’s Exciting Packaging Story.
Rising demand for packaging of household, medical, edible and lifestyle products is a key reason leading private equity firms to look at deepening their foothold in the packaging industry, especially in emerging economies such as India and China.
