M&A

M&A

Manjushree Technopack to acquire caps maker Hitesh Plastics

Mint  

Bengaluru-based plastics packager Manjushree Technopack Ltd (MTL), backed by US private equity firm Advent International, is to acquire 100% of the business operations and manufacturing facilities of Hitesh Plastics, a Bengaluru-headquartered maker of plastic caps and closures, on a slump sale basis. This is the fourth acquisition for MTL. The acquisition will allow MTL to strengthen its position as an end-to-end integrated plastic packaging player. It will also add two new plants in Jalgaon, Maharashtra, to MTL's existing 21 plants across India. MTL will also gain access to 500+ customers, including clientele in the beverages and FMCG industries