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Warburg Pincus acquires majority stake in Parksons Packaging

Green Fin Investments B.V., an affiliate of Warburg Pincus, has acquired a majority stake in Parksons Packaging Limited (“Parksons”). As part of the deal, existing private equity investors, Kedaara Capital AIF 1 and Olza Holdings Limited and IIFL, have completely exited their investment in Parksons and the Kejriwal family has sold a partial stake. Ramesh Kejriwal, Siddharth Kejriwal, and Chaitanya Kejriwal will proceed to maintain their current positions of Chairman, Managing Director, and Joint Managing Director, respectively, and will run the business going forward.

Parksons, established in 1996, is the country’s largest independent folding carton manufacturer with a deeply diversified product portfolio and 300+ customers across consumer, food, pharmaceutical, and other end-markets. Through its 6 states of the art manufacturing facilities across India, Parksons can convert over 1,25,000 MT of paper board annually and cater to its customers with the best service and quality. 

Parksons has been a leader in paper packaging and has constantly been at the fore of offering innovative and sustainable packaging solutions to its customers, which has resulted in its strong growth since its establishment. A rise in the adoption of paper packaging and a solid underlying consumption story will further boost the growth going forward. 

With great technical understanding, end-to-end capabilities, and constant innovation, Parksons has received many accolades from important customers for its solutions-oriented support, flexibility, and innovation. Being awarded the top 100 Great Places to Work 2020 in India, Parksons has created an outstanding team of professionals and a great ethos of work culture and team spirit. 

Mr. Siddharth Kejriwal, Managing Director, Parksons, said “We have had a strong collaborative relationship with Kedaara in our growth journey over the past 6 years and now we are excited to partner with Warburg Pincus in our next phase of growth. Warburg Pincus’ investment in Parksons is a testament to the strong, high-quality business we have built over the past two decades. Their unique understanding of the consumer market will help us further strengthen our position as India’s leading paper packaging solutions provider.”

Parksons Packaging is a leader in its segment and with the new investment would be able to further expand its operations.

Shishir Gupta, Founder and CEO, StartupLanes

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