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Khaitan assists Creative Polypack with sale of majority stake to Austrian Co Constantia Flexibles

In one of the largest in-bound investments in eastern India this year, Austrian film-based flexible packaging manufacturer, Constantia Flexibles have completed the acquisition of a majority shareholding in Kolkata-based Creative Polypack for an undisclosed sum, making it India’s third largest flexible packaging company also gaining a stronger footprint in the HPC market, reported The Hindu.

Khaitan & Co advised the promoters and shareholders of Creative Polypack, Vibgyor Printing and Packaging and Aparna Paper Processing Industry in the sale of the majority shareholding, and was represented by the core corporate transaction team partner Arindam Sarkar, principal associate Suhana Islam, senior associates Prithwijit Gangopadhyay and Shourya Sengupta, with assistance from associate partner Gaurav Dasgupta on the real estate aspects along with associate Sneh Lata on the closing of the deal.

Founded in 1986, Creative Polypack manufactures film-based flexible packaging for the food and home & personal care industries, as well as paper-based soap wrappers and currently has about 850 employees at eight production sites in Baddi, Kanpur, Kolkata, Assam and Puducherry, in northern, eastern and southern India, with a sales figure of around €75m as of March 31, 2018, as per the press release by Constantia Flexibles.

2018-03-23

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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