Parksons Packaging acquires Fortuner Packaging, third acquisition in 18 months

Close on the heels of acquiring Gujarat-based MK Printpack, Parksons Packaging, the Warburg Pincus-backed packaging giant in India, has announced that it has completed the acquisition of Fortuner Packaging’s business by way of a slump sale.

06 Apr 2023 | By Ramu Ramanathan

Kejriwal (r) with father Ramesh Kejriwal, and the Kumars of Fortuner

Fortuner Packaging marks Parksons’ third acquisition in the last 18 months. In November 2021, Parksons acquired Manohar Packaging, a leading producer of folding cartons in the Alcoholic Beverages segment which has helped increase domain expertise and depth of services in this segment. Recently in March 2023, Parksons acquired MK Printpack, a folding carton player with strong capabilities in fluted packaging and a strategically located manufacturing footprint.

Founded in 2012, Fortuner Packaging manufactures folding cartons primarily catering to pharmaceutical, home and personal care, and automobile customers through its two manufacturing facilities in Baddi, Himachal Pradesh.

The acquisition of Fortuner Packaging will fortify Parksons Packaging’s leadership position in the folding cartons market in India. Fortuner Packaging’s existing manufacturing facilities will deepen Parksons’ presence in North India. The senior leadership of Fortuner Packaging will continue with the business and be part of the future growth journey with Parksons.

Siddharth Kejriwal, managing director, Parksons Packaging, said, "We are very excited to welcome Fortuner Packaging to the Parksons family. This acquisition fits very well in our strategy to grow our Pharma business vertical. With this acquisition, Parksons now has pan India capability to serve pharma customers across pharmaceutical manufacturing hubs. Parksons now has dedicated pharma manufacturing cells in Daman to serve West India, Guwahati to serve East India, Sricity to serve South India, Pantnagar and Baddi to serve North India.”

With the latest acquisition (including its subsidiaries), Parksons now has thirteen manufacturing facilities across Daman, Chakan, Pantnagar, Guwahati, SriCity, Goa, Punjab, Haridwar, Baddi and Gujarat.

“Parksons Packaging brings a wealth of expertise, knowledge, and experience. Their outstanding reputation in the industry and market leadership will allow us to create a better value proposition for our customers. We are very excited and happy to be associated with the Parksons family,” said Naveen Kumar, Anurag Godia and Neeraj Kumar of Fortuner Packaging.