JK Paper jumps 4% on acquiring majority stake in Horizon Packs and SPPL

The shift in consumer preferences are driving demand for superior quality, eco-friendly packaging, JK Paper said.

Shares of JK Paper traded 4 per cent higher at Rs 435.90 on the BSE in Tuesday’s intra-day trade after the company acquired a majority stake in Horizon Packs and Securipax Packaging.

JK Paper has entered into an agreement for the acquisition of 85 per cent shares of Horizon Packs (HPPL) and Securipax Packaging (SPPL). The balance 15 per cent stake will be bought within a period of 3 years, the paper and packaging board company said in a press release.

HPPL and SPPL together are India’s largest Corrugated Packaging manufacturers with seven (7) plants across the country.