M&A

M&A

Manjushree Technopack to acquire Oricon's packaging business for Rs.520-Cr

BSE Announcement   MoneyControl  

Bengaluru-based Manjushree Technopack is to acquire the plastics packaging business of Mumbai-based, publicly-listed Oricon Enterprises Limited at an Enterprise Value of INR 520 crore. The acquired business includes Oriental Containers, a manufacturer of plastic caps & closures and preforms, primarily used in beverages and comprises two manufacturing plants located in Goa and Odisha. The acquired business had reported a turnover of INR 383.76 Cr for FY23.Khaitan & Co was the legal advisor to Manjushree Technopack on the deal.

In Jan-18, Private equity firm Advent International had invested about USD 300 M in Manjushree Technopack