01-Dec-23 In October 2018, Advent invested in plastics packaging company Manjushree Technopack in partnership with the founding Kedia family. As part of the transaction, Advent purchased all the shares owned by investor Kedaara Capital and a portion of the Kedia family’s stake
With over 40 years of packaging expertise in India, Bengaluru-based Manjushree caters to packaging requirements across FMCG, F&B, home care, personal care, agrochemicals, pharmaceutical and liquor industries
Leading global private equity investor Advent International is exploring strategic options to unlock value in India's largest rigid plastic packaging firm Manjushree Technopak
"Advent International recently invited pitches from a clutch of foreign and domestic investment banks to pick an advisor and explore an exit by selling a controlling stake in portfolio company Manjushree Technopak,"
Advent is also simultaneously exploring the possibility of an IPO for Manjushree Technopak and added that both sale and listing options are on the table currently.
Advent is expecting a valuation of up to a billion dollars for the entire firm. They own over 98 per cent
In October 2018, Advent invested in market leader Manjushree Technopack in partnership with the founding Kedia family. As part of the transaction, Advent purchased all the shares owned by investor Kedaara Capital and a portion of the Kedia family’s stake in Manjushree Technopack. Back then, reports said the deal valued the firm between Rs 2,300 crores to Rs 2,440 crores.
According to an official release dated 29th September, it has a pan-India presence across 20 plants and a large converting capacity of over 200,000 MT of plastics to films, bottles, containersm PET preforms and recycled resins, with an annual turnover of around Rs 2,600 crores.
Since the entry of Advent International, Manjushree has been on the prowl for acquisitions.
It has acquired 100 per cent of the business operations and manufacturing facilities of Hiteshlastics, a Bengaluru-based maker of plastic caps and closures.
Earlier, according to reports, it purchased a majority stake in Bengaluru-based Classy Kontainers, New Delhi-based Pear Polymers and Amritsar-based National Plastics.
Source: Money Control
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