Mumbai-based Parksons Packaging has received Rs 200-crore capital injection from Kedaara Capital. The private equity fund has thus purchased a significant minority stake in the packaging major.Kedaara Capital acquired the entire stake of the existing investor, Chrys Capital and an additional stake from the promoter group.
Ramesh Kejriwal, chairman, Parksons Packaging, said, “Kedaara's promoter-partnership model, strong industry networks, and unique understanding of the consumer and healthcare industry will add significant value to Parksons and help further strengthen our position as India's most preferred and innovative paper packaging solutions provider."
Parksons Packaging has production plants in Chakan (Pune), Daman and Rudrapur, which can convert up to 5500 tonnes of paperboard per month.
Kejriwal said, “Our strategy is to continuously expand our geographical reach. The focus is clearly to be closer to the customer and service them at all their sites with the same consistent high quality.”
The company, in 2014, underwent a change in its management structure. Siddharth Kejriwal, executive director was promoted to be the managing director and head Parksons’ operations across India. Ramesh Kejriwal, who held the position of managing director took up the role as chairman.
Parksons Packaging has recently embarked on expanding its infrastructure with investment in a slew of new offset presses. The packaging converter signed up with KBA, Heidelberg and Komori for installation of four highly configured offset presses. This is also part of the overall upgradation which Parksons is implementing at its Daman facility with the replacement of existing two six-colour presses.
Source : printweek.in