Parksons Packaging acquires Manohar Packaging – premium alcobev cartonmaker

Parksons' Manohar combination – strong platform for paper-based premium alcobev packaging

2232
Siddarth Kejriwal, managing director of Parksons Packaging talks about the acquisition of Manohar Packaging Screenshot PSA
Siddarth Kejriwal, managing director of Parksons Packaging talks about the acquisition of Manohar Packaging Screenshot PSA

As was rumored in the industry for the past several days, and as announced in the financial press on 29 November 2021, Warburg Pincus-owned Parksons Packaging has acquired a 100% stake in Manohar Packaging. Both companies are headquartered in Mumbai, with Parksons Packaging owning six plants in five locations and Manohar Packaging having two plants including a new greenfield site in Punjab that started production before the onset of the pandemic. While Parksons Packaging is active in almost every FMCG monocarton segment, Manohar is a specialist in premium alcobev packaging.

The financial press says the deal is in the range of Rs 200 to 250 crore (approximately US$ 27 to 33 million). An interview on Zoom with managing director Siddharth Kejriwal and chairman Ramesh Kejriwal of Parksons Packaging confirms that the expected combined revenue of the merged company is expected to be Rs. 1,500 in the financial year ending 31 March 2022.

Parksons Packaging has six carton manufacturing plants in five locations – Daman and Chakan in Western India, two plants in Pantnagar in the North, Sri City in South India, and Guwahati in the Northeast, while Manohar Packaging has carton plants in Mapusa in North Goa and the new plant 17 kilometers west of Ambala in Punjab.

Screenshot of premium alcobev packaging from Manohar Packagings website

Aditya Patwardhan who has grown the family-owned Manohar Packaging and is its CEO will continue to be part of the management team in the enlarged Parksons Packaging. Patwardhan says, “We’ve always been good and it’s time to become great. We look forward to this association and offering our clients the strongest platform for paper-based packaging that any Indian company can provide and is thus far unparalleled in the industry.”

Siddarth Kejriwal explains that while Parksons Packaging was acquired by Warburg-Pincus in April 2021, the global equity and investment firm is content with letting the Kejriwal family continue to drive the growth of the Indian monocarton business. Speaking about inorganic growth and the acquisition of Manohar Packaging, he said, “Parksons has a tradition of doing things differently and for us finding the right partner means looking for real synergy. We look for customer fit, location fit, culture fit, and most of all trust.”

He spoke further about the synergy between the two organizations, “Scalability is another factor that we look for when evaluating inorganic growth, and the new plant in Punjab can easily be scaled to four times its current capacity. The plant is located in a region with many of the biggest food and pharma players as well as alcobev. The real benefit is to the premium alcobev brand owners that Manohar brings closer to us, who will now be able to leverage our network of eight plants in every part of the country.”

Parksons Packaging is hopeful of bettering the Indian monocarton industry’s expected double digital growth in the 2022-23 financial year. Chairman Ramesh Kejriwal says that 20% growth is achievable for the combined company which would take the turnover to Rs 1,800 crores. With another K&B Rapida 7-color coater press ordered and expected to be installed before 31 March 2022, capacity addition and redundancy for the Punjab plant is already underway. He states, “We are aiming to reach Rs 2,000 crore in FY 2022-23 itself, which is achievable. And there is certainly no harm in being ambitious in our goals.”

IndiFoodBev — authentic, impactful and influential

An English-language food and beverage processing and packaging industry B2B platform in print and web, IndiFoodBev is in its third year of publication. It is said that the Indian food and beverage industries represent approximately US$ 900 billion in revenues which implies more than 20% of the country’s GDP. Eliminating the wastage on the farmside can help to deliver more protein to a higher number of the population apart from generating sizable exports. The savings in soil, seeds, water, fertilizer, energy and ultimately food and nutrition could be the most immense contribution that country is poised to make to the moderation of climate change.

To improve your marketing and grow sales to the food and beverage processing and packaging industry, talk to us. Our research and consulting company IppStar [www.ippstar.org] can assess your potential and addressable markets in light of the competition. We can discuss marketing, communication, and sales strategies for market entry and growth.

Suppliers and service providers with a strategy and budget for targeted marketing can discuss using our hybrid print, web, video, and social media channels to create brand recognition linked to market relevance. Our technical writers are ready to meet you and your customers for content.

The second largest producer of fruit and vegetables in the world is continuously expanding processing capacities and delivery systems with appropriate innovative technologies. We cover product and consumer trends, nutrition, processing, research, equipment and packaging from farm to thali. Get our 2025 media kit and recalibrate your role in this dynamic market. Enhance your visibility and relevance to existing markets and turn potential customers into conversations. Ask for a sample copy of our bi-monthly in print or our weekly IndiFoodBev eZine each Wednesday.

For editorial info@ippgroup.in — for advertisement ads1@ippgroup.in and for subscriptions subscription@ippgroup.in

Naresh Khanna – 10 February 2025

Subscribe Now

LEAVE A REPLY

Please enter your comment!
Please enter your name here