Flour mills to mega deals: How Manjushree morphed into a packaging giant

A visit to a Tata Tea garden in the region sowed the seed of the idea of plastic packaging in the mind of Kedia and his brothers

The journey of Manjushree Technopack — from owning flour mills in Tinsukia, Assam, to becoming a dominant force in India's rigid plastic packaging industry — caps a remarkable story of adaptation, innovation and strategic vision.

 

Last week, US private equity firm Advent International signed a deal to sell MTL to Hong Kong-based PAG for nearly $1 billion. Currently, Advent holds a 97 per cent stake in Manjushree, while the remaining 3 per cent is held by other public shareholders.

 

This was PAG’s biggest transaction in India till date, underscoring the company's growth potential in the country’s booming packaging industry, which