Manjushree Technopack acquires Delhi-based Varahi Limited

Vimal Kedia, managing director, Manjushree Technopack

Including the three Varahi plants, Manjushree now has vii manufacturing plants across the country with the eighth location in Guwahati, Assam expected to be a commercial production in January 2017. Manjushree'due south existing clients include GSK, Coca-Cola, Nestle, Mondelez, PepsiCo and Reckitt Benckiser while new customers such as Dabur, SC Johnson, Perfetti Van Melle and Patanjali take taken the client base of operations by 100.

Announcing the acquisition, Manjushree Technopack's managing director Vimal Kedia said, "This is a meaning milestone for Manjushree equally information technology marks our first strategic investment towards industry consolidation. Varahi has a xl-year-old legacy and we were impressed by their manufacturing capabilities. With this acquisition, Manjushree gets a solid foothold in N Republic of india and cross-selling products of between Manjushree and Varahi'southward customers will requite us a huge positive growth. Our aim is to go a 360-caste rigid packaging solutions provider for brands across Republic of india and this gives united states of america an impetus to serve our existing and new clients with world-class packaging solutions. We are excited to have squad Varahi on board."

Manjushree Technopack acquires Delhi-based Varahi Limited

Manjushree closed the fiscal year 2015–2016 with a turnover of Rs. 546 crore. The acquisition and expansion plans are expected to take the visitor's annual turnover to Rs. 800 crore. Kedia says, "The acquisition offered united states an inorganic growth option that will result in a forty% increase in our tiptop line and will improve our bottom line likewise. By end of this fiscal, nosotros would be achieving Rs. 800 crore turnover, as confronting Rs. 575 crore estimated earlier. The second largest thespian in the segment has a turnover not more than Rs. 500 crore, thereby helping u.s.a. to increment the gap between the two. Our entire machinery is imported from Japan and Canada, and hence nosotros compete on quality and variety with the tiptop players in the world."

Manjushree will besides gain access to Varahi's intellectual property, which combined with its own designs and patents will add together up to more than 100 registered designs and patents; this will permit Manjushree to produce containers from 5 ml to xx L, in over i,000 unlike shapes, sizes and designs.

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