JM Financial India Fund II pumps in 60 crore in a packaging company Canpac Trends
According to new reports, JM Financial India Fund II has invested Rs 60 crore ($8.3 million) in Canpac Trends which is a Gujarat-based folding carton and packaging solutions firm.
JM Financial India Fund II, part of the homegrown JM Financial Group, is a sector-agnostic growth-capital private equity fund. The packaging solutions company, Canpac was founded in 2010 by first-generation entrepreneur NileshTodi and is headquartered in Ahmedabad, Gujarat, where it operates one manufacturing plant and another in Tirupur, Tamil Nadu.
The investment comes in the middle of the expected growth in the packaging sector. Growth in the retail, e-commerce and increased consumption of packaged goods is predicted to drive growth organised packaging players. Canpac is well positioned to capture this growth spectrum.