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Ansapack picks up strategic stake in Rich Printers
Mint Mumbai
|January 03, 2024
Pharma packaging solutions provider Ansapack Pvt. Ltd has acquired a strategic stake in Rich Printers Pvt. Ltd through its folding carton division, Ansa Folding Carton. Rich Printers offers offset printing as well as other services across sectors.
The enterprise value for the Rich Printers deal is 117 crore (around $14 million at current exchange rates), the company said. The move follows Ansapack's acquisition of a Sikkimbased pharma flexibles manufacturing facility for 100 crore a year and a half ago.
According to a statement by Mumbai-based Ansapack, the combined entity will operate five paper conversion manufacturing plants in India, asserting its position as the leading pharma folding carton manufacturer in India.
The packaging company aims to achieve a capacity of 40,000 tonnes in FY25 and seeks to double it subsequently.
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