Founded in 1983, Manjushree has 21 locations across India, with its headquarters in Bengaluru.
Hong Kong-based alternative investment firm PAG has acquired a majority stake in Bengaluru-based rigid plastic packaging firm Manjushree Technopack from US private equity firm Advent International. The deal got signed for an enterprise value of close to $1 billion. Advent, which invested in the company in 2018, was planning to take Manjushree Technopack public but opted for a sale. Manjushree was planning to raise Rs 3,000 crore ($355.5 million) through the IPO.
Founded in 1983, Manjushree with 21 locations across India is country’s largest rigid plastic packaging company, with 23 manufacturing plants and more than 50 patents and designs.
PAG, a prominent APAC-focused investment firm, manages over $55 billion in assets and has deployed $1.7 billion in private equity investment in India since opening its local office in 2019. Its portfolio spans credit markets, private equity, and real assets. This acquisition highlights PAG’s commitment to expanding its footprint in high-growth sectors within India.
