Parikh Packaging to sell 60% stake to Constantia Flexibles

Pranav Parikh, director at Parikh Packaging, said, “World over, we are witnessing consolidation. Today, Indian firms are looking to expand their business and also their presence in countries which have huge potential. This acquisition will help Parikh Packaging to cater domestic and international market.”  

A top official of Constantia Flexibles said, "This acquisition will help Constantia operatie in a highly attractive growth market. India has an ever increasing middle class with growing demand for packaged food and health care products, which we want to address with top quality products and services. We also want to support the growth of our international key accounts in this market. The acquisition is part of the international growth strategy of Constantia Flexibles and constitutes another important step for further growth and expansion in Asia."

Although both the firms declined to comment on the financial transaction, the remaining 40% stake remains with Parikh Packaging.

Established in 1999, Parikh Packaging is a flagship company of 70 years old Parikh Group which was incepted in 1940. It was initially into the trading business followed by manufacturing and marketing of branded utensils under the roof of the first Indian most popular brand Bhartilium.

Parikh Packaging caters to flexible packaging for pharmaceutical and food sectors and has clients in India, UK, US, South African, African Continent, Middle East and the Far East, Sri Lanka, Canada, New Zeland, UAE, Egypt, Yeman, Nigeria and Kenya.