JK Paper to acquire majority stakes in two packaging businesses

26 Nov 2022 , 01:34 AM

JK Paper has entered into Share Purchase and Shareholders Agreements SPSHAs for the acquisition of 85Percentage shares of Horizon Packs HPPL and Securipax Packaging SPPL and the balance 15Percentage within a period of 3 years as per the respective SPSHAs HPPL and SPPL together are Indias largest Corrugated Packaging manufacturers with seven 7 plants across the country In FY 2021-22 HPPL and SPPL had a consolidated Revenue of Rs 832 crore Corrugated Packaging is a rapidly growing segment in the Indian Paper Packaging industry driven by growth in end-use industries such as Food Beverage FMCG etc