Borosil Glass buys 60% stake in glass packaging company Klasspack

Glassware manufacturer Borosil Glass Works Ltd has ventured into primary pharma glass packaging business by acquiring 60.3 stake in Klasspack Pvt Ltd, the Nashik (Maharashtra) based manufacturer of ampoules and vials for the pharmaceutical industry, for an undisclosed amount. With acquisition, Borosil, which already supplies laboratory glassware to India’s leading pharmaceutical companies, research labs, healthcare, science and educational institutes, will expand its packaging product portfolio in the pharma sector. Avendus advised Borosil on the transaction.  

Shreevar Kheruka, managing director, Borosil, said, “With this acquisition, Borosil wishes to further its vision of being India's most customer centric company. Our investment will help Klasspack to ramp up facilities and production to give our current pharmaceutical customers a high quality choice for sourcing their pharmaceutical packaging needs. Borosil already enjoys a high brand equity and quality reputation in the pharmaceutical industry and we are confident that our existing customers will substantially benefit from this transaction.”