Latest News | Investcorp Leads Rs 340-cr Funding to Packaging Firm Canpac Trends
Get latest articles and stories on Latest News at LatestLY. Global alternative investment firm Investcorp has led an investment of Rs 340 crore (USD 41 million) in the paper-based packaging solutions provider Canpac Trends, companies said in a joint statement on Friday.
Mumbai, Dec 15 (PTI) Global alternative investment firm Investcorp has led an investment of Rs 340 crore (USD 41 million) in the paper-based packaging solutions provider Canpac Trends, companies said in a joint statement on Friday.
The transaction provides a partial exit to JM Financial's second India fund that has been invested in Canpac since 2021.
Founded by Nilesh Todi, Ahmedabad-based Canpac makes folding cartons, which have diverse end-use in fashion and retail, food and food services, FMCG, and industrial products. It also makes paper bags, luxury boxes, corrugated cartons and flexible laminate solutions.
Canpac has four manufacturing plants in Ahmedabad, Kolkata and Tiruppur in Tamil Nadu, apart from an R&D facility.
The investment will help Canpac expand its production footprint to more manufacturing hubs, apart from scaling up sales capabilities, Canpac founder Nilesh Todi said.
Gaurav Sharma, head of India investment business at Investcorp, said paper packaging champions sustainability, a key Investcorp priority for each investment across all our geographies.
According to Anshuman Goenka, a partner at Investcorp, the domestic paper packaging market is over Rs 57,000 crore.
Set up in 1982, Investcorp specialises in alternative investments across private equity, realty, credit, infrastructure, and insurance asset management. It has 14 offices across the US, Europe, the GCC, India, China, Japan, and Singapore and has over USD 48 billion in assets under management.
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