Business
HPPL continues to strengthen its Labeling business –
Announces acquisition of Ajanta Packaging, India
Mumbai, 23rd March, 2018: Huhtamaki PPL (HPPL) announced today that it has entered into a Business Transfer Agreement for acquisition of the business of Ajanta Packaging, India as a slump sale, at an enterprise valuation of Rs 1003 million, on a cash free, debt free basis. This will enable its customers to get the benefits of new technologies and strengthen its innovation capabilities.
Ajanta Packaging, promoted by Sudhir and Chandan Khanna, is one of the pioneers and largest privately owned Pressure Sensitive label manufacturers in India, having state of art manufacturing facilities in Daman (West India) and Baddi (North India).
This partnership with the Ajanta Team, will further consolidate HPPL’s position in the labeling market in India.
HPPL is India’s leading packaging solutions provider for Flexible Packaging, Labels, Tube laminate webs, Thermoformable laminates, Promotional materials and Gravure Cylinders.
