Bain set to acquire Parksons Packaging for ₹3,000 cr
Bain capital, US private equity firm is looking forward to enhancing its portfolio of packaging businesses by acquiring Daman-based Parksons Packaging Ltd for more than ₹3,000 crore, according to news reports. Parksons is India’s largest independent folding carton manufacturer that also makes paper-based labels, leaflets and corrugated boxes, recorded ₹500 crore revenue in 2019-20.
With covid playing havoc with the normalcy, people switched to online shopping further creating demand for packaging solutions. In 2021, e-commerce growth continues further propelling growth in the sustainable packaging solutions.
Parksons’ top clients include Coca-Cola, McDonald’s, KFC and Hindustan Unilever, besides several popular food and beverages, home and personal care and healthcare brands. Increase in demand for packaging in household, healthcare, wellness and food products is a key reason for leading equity firms, prompting them to invest in the packaging industry, especially in emerging economies such as India and China.