JK Paper to acquire majority stakes in two packaging businesses

JK Paper has entered into Share Purchase and Shareholders' Agreements (SPSHAs) for the acquisition of 85% shares of Horizon Packs (HPPL) and Securipax Packaging (SPPL), and the balance 15% within a period of 3 years as per the respective SPSHAs.

HPPL and SPPL together are India's largest Corrugated Packaging manufacturers with seven (7) plants across the country. In FY 2021-22, HPPL and SPPL had a consolidated Revenue of Rs. 832 crore. Corrugated Packaging is a rapidly growing segment in the Indian Paper & Packaging industry driven by growth in end-use industries such as Food & Beverage, FMCG, etc.

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