Aiming attainment of product commercialisation and efficacy in vertical B2B, Manjushree technopack, India’s largest hard plastic company supported by advent international, is tieing bands with Pearl polymers.This transaction is subject to customary closing conditions and regulatory approvals.
Full acquaintance in the market and an expertise of more than 40 years of Plastic firm is the most important property to rely upon. Functioning in many sectors, FMCG, F&B, agrochemical, liquor etc they have made themselves count in the front row for packaging.
Biggest players of the market GSK, Cadbury, PepsiCo, Marico, Heinz, Unilever all are having their packaging demands catered by the company.
The company has a manufacturing capacity of 1,75,000 MT per annum. With a turnover of Rs 1,100+ crore, it is one of the top 500 mid-sized companies in India.
Pearl polymer’s B2B relationships will strengthen the outreach of Manjushree technopack limited.
Sanjay Kapote, CEO, Manjushree Technopack, explained, “The acquisition is in line with our strategy to grow and diversify our business. Acquiring the B2B business from Pearl Polymers will allow us to consolidate our leadership position in the rigid packaging sector. We expect a seamless integration of the acquired business with the rest of the MTL group given the success we have achieved in our acquisitions to date. The proposed acquisition is in line with Manjushree’s aggressive inorganic growth plans. The company aspires to be the employer and partner of choice, we will continue delivering deep value for our customers, post consummation of the transaction.”
“The combination of our technological strength, product range and geographical spread with Pearl Polymers’ robust container business will help us deliver an extended containers portfolio and areas of expertise to our customers in the future”, he added.
Pearl Polymers is the pioneer and was instrumental in creating the market for PET packaging in India. “With its customer spread across India and in every segment of the market, we believe that this acquisition will bring great value. Our clients will continue to receive the same high-quality services that they have come to expect for the last 36 years,” said Chand Seth, CMD of Pearl Polymers.
“This deal will allow us to focus and grow the well-known Pearlpet brand to new levels. We expect to launch many new product lines in the future,” he added,
Completion of deal with pearl will rake the MTL’s production by acquiring over 4 of pearl polymer’s plants, and some of the high demand customer base of marquee clientele in the FMCG, liquor and pharma segments.
