India-based rigid packaging firm Manjushree Technopack has acquired Varahi for undisclosed amount, in a bid to strengthen its business.
Established in 1971, Varahi offers packaging solutions including plastic bottles, caps, closures, preforms, jars and containers for FMCG, beverages and pharmaceuticals companies.
It operates manufacturing facilities located in Noida, Baddi and Pantnagar and has more than 170 machines which process PET Bottles, HDPE Containers, and PP Caps.
Varahi also offers seven rigid plastics packaging solutions including injection molding, extrusion blow molding, injection stretch blow molding, stretch blow molding, injection blow molding, compression molding and preform molding.
With the acquisition, Manjushree operates six manufacturing facilities in India with a combined production capacity of 1 billion units per annum, reported BW Businessworld.
Manjushree Technopack managing director Vimal Kedia said: “This is a significant milestone for Manjushree as it marks our first strategic investment.
“Varahi has a 40 year old legacy and we were impressed by their manufacturing capabilities.
“With this acquisition, Manjushree gets a solid foothold in north India and cross-selling products of between Manjushree and Varahi’s customers will give us optimum growth.”
Manjushree said that the acquisition adds new customers including Dabur, SC Johnson, Perfetti Van Melle and Patanjali, expanding its client base to 200.
Kedia was reported by Economic Times as saying: “This acquisition gives us scale of operations, a pan India presence and manufacturing capacity all over the country.”
