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Manjushree completes acquisition of Jallan to boost paper container industry
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Monday, 08 May, 2023, 14 : 00 PM [IST]
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Our Bureau, Bengaluru
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Manjushree Packtek Pvt. Ltd has announced the acquisition of Jallan Polypack, a well-known name in the sustainable paper cups packaging segment in India. The strategic acquisition is expected to boost Manjushree's footprint in the paper and delivery packaging solutions ecosystem, backed by cutting-edge research and technology.
The promoters of Manjushree Packtek, have over four decades of experience in the packaging industry and were the founders of South Asia’s largest plastic packaging company, Manjushree Technopack Ltd.
The Indian packaging paper industry is expected to reach $23.6 billion by 2028. The growth in the consumption of paper cups and containers is largely driven by the increasing demand for eco-friendly solutions, the growth of the HoReCa sectors, especially food delivery companies and cloud kitchens, as well as the demand for packaged goods.
Ankit Kedia, managing director, Manjushree Packtek Pvt. Ltd, said, "At Manjushree, we have seen the Indian packaging industry's evolution in depth. We have constantly focused on innovating and creating solutions that our clients and their customers need. With the world facing the impact of climate change, it is imperative to find and integrate alternatives that are sustainable in every field of operations. This is where paper packaging has assumed importance in the recent years. Jallan Polypack’s immense goodwill gives us a head start for our future plans. To diversify our set of offerings in paper containers across the spectrum of food service and other segments as well”.
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