M&A

M&A

JK Paper acquires 72% stake in Borkar Packaging for Rs.235-Cr

BSE Announcement   Businessworld   Advisor Announcement  

Publicly listed JK Paper has acquired a 72% controlling stake in Goa-based Borkar Packaging for INR 235 crore in cash. The transaction includes the purchase of 65.7% from existing shareholders and an additional 6.3% through subscription to fresh equity shares. The remaining 28% is expected to be acquired over the next four years. Singhi Advisors was the transaction advisor to Borkar Packaging.The enterprise value of Borkar Packaging, including debt, is estimated at approximately INR 450 crore. For FY24, the target had reported a consolidated turnover of INR 393.20 crore - down from the INR 404.61 crore in FY23.The deal marks JK Paper’s fifth acquisition in the packaging sector within three years. Its recent packaging investments include Horizon Packs and Securipax Packaging.