Joining forces in India: SB Packagings, backed by Premji Invest, announces partnership with Constantia Flexibles
New Delhi, 23 January 2023: SB Packagings, a leader in the hygiene and recyclable packaging industry in India, and Constantia Flexibles, a leading global player in the flexible packaging industry, today announced they have entered into a joint venture (JV). This merger of SB Packagings, backed by Premji Invest, and Constantia India’s operations is in line with the vision of the stakeholders to create a dominant value-added packaging platform in India and South Asia.
“SB Packagings is known in the Indian packaging industry for its focus on sustainability and Innovation. We are delighted to enter into this joint venture with Constantia and look forward to continuing to develop our businesses together. This JV enables SBP to have a pan India presence across 9 manufacturing locations.” said Amit Banga, Managing Director of SB Packagings. O.P. Banga, Founder of SB Packagings, said that this JV with Constantia is a momentous milestone in the journey of SB Packagings and evinced optimism that the joint venture will scale new heights.
The JV will pursue both organic and inorganic growth opportunities in higher value-added market segments, continuing its strong growth trajectory in the hygiene, food, and HPC segment even as it further develops the sustainable mono-material EcoLam product range. It will bring together the mono-material capabilities of both Constantia Flexibles India and SB Packagings and offer medium to high-barrier packaging solutions to food and hygiene markets.
Transaction closure is subject to applicable regulatory approvals, and both parties expect the closure to be achieved by March end.
KPMG India acted as the exclusive financial advisor to Constantia Flexibles for the transaction