Warburg-owned Parksons Packaging buys MK Printpack
Parksons will leverage Printpack’s packaging solutions and technical expertise in 'fluted packaging'—using reinforced cardboard—to augment its product portfolio.
Paper packaging company Parksons Packaging has acquired MK Printpack to further strengthen its position in the folding cartons market in India.
With this acquisition, Parksons will leverage Printpack’s packaging solutions and technical expertise in fluted packaging—using reinforced cardboard—to augment its product portfolio. MK’s strategically located manufacturing facilities will also help Parksons expand its geographic footprint.
This is the company’s second acquisition in the last 18 months.
The existing founders, Anil Kumar and Sanjeev Kumar, along with the senior leadership, will continue to be a part of Printpack’s journey.
According to Siddharth Kejriwal, MD, Parksons Packaging, the acquisition will enhance the company's ability to serve clients efficiently across the country, giving it access to new growth opportunities.
"We look forward to leveraging MK Printpack’s expertise in manufacturing "high-quality micro flute cartons" by using its large format printing capability and strategically located manufacturing facilities in Haridwar and Gujarat, along with the pharma packaging-focused facility in Daman," he added.
Founded in 1996, Warburg Pincus-backed Parksons serves brands across several industries spanning FMCG, pharmaceuticals, retail, home, personal care, alcoholic beverages, toys, and electricals in domestic as well as international markets.
In November 2021, Parksons acquired Manohar Packaging, a producer of folding cartons in the alcoholic beverages segment, which has helped increase domain expertise and depth of services in this segment.
Presently, it has eleven manufacturing facilities across Daman, Chakan, Pantnagar, Guwahati, SriCity, Goa, Punjab, Haridwar, and Gujarat.
MK Printpack, founded in 1982, caters to the pharmaceutical, food and beverages, home and personal care, as well as toys and electrical industries through its three manufacturing facilities in Gujarat, Daman, and Haridwar.
"This association will allow us to serve our customers better with a wider range of products and pan-India presence," said Anil Kumar and Sanjeev Kumar of MK Printpack.
Edited by Kanishk Singh