Ansa Folding Carton acquires Rich Printers

Ansa Folding Carton (AFC) has acquired a strategic stake in Rich Printers (RPL) at an enterprising value of Rs 117-crore. With this, the combined entity will now operate five paper conversion manufacturing plants in India, making it the largest pharmaceutical folding carton producer in the country.

02 Jan 2024 | By Rahul Kumar

This strategic move not only complements the existing portfolio but also leverages the strength of Ansa’s pharma flexible vertical

According to the company, the expanded operations will enable Ansa’s folding carton vertical to better serve its customers and meet the growing demand for high-quality cartons across a spectrum of industries.

Rich Printers is known for its commitment to brand excellence, quality, and innovation within the folding carton industry. Equipped with three state-of-the-art manufacturing facilities boasting cutting-edge technology and equipment, Rich Printers has mastered the production of high-quality folding cartons with exceptional speed and precision. 

The newly formed entity will possess an impressive paper conversion capacity of 40,000 tonnes next year and is committed to doubling its size in the years to come.

This strategic move not only complements the existing portfolio but also leverages the strength of Ansa’s pharma flexible vertical, which is India’s largest player in the pharmaceutical flexible packaging sector. The combined entity will now operate nine facilities strategically situated across key Indian states, including Maharashtra, Gujarat, Himachal Pradesh, West Bengal, and Sikkim, further solidifying its market presence.

“Rich Group is excited to join hands with the Ansa family,” Tushar and Nayan Shah, directors of Rich Printers, said. “We (at Rich) have had a heritage of serving our customers in the folding carton manufacturing space and see parallels with AFC, who has a similar long-standing reputation. AFC’s deep understanding of the domestic market, their vision of sustainable growth, and other complimentary business verticals in the pharma packaging space within the group make them the clear choice for partnering.”

Gautam & Aditya Agarwal of AFC emphasised that this partnership would fortify the company’s manufacturing capabilities. They also underscored the company’s steadfast commitment to offering circular and sustainable product solutions aligned with the vision of becoming a global supply hub for converted paper products. 

“The acquisition is a pivotal step in AFC’s strategic growth plan, highlighting its dedication to expanding operations pan-India. The organisation remains committed to exploring inorganic growth opportunities to serve the evolving needs of its customers,” they said.