ITC completes Century Pulp acquisition, expands paper business scale

The ₹3,500-crore acquisition makes ITC India's largest integrated paperboards and paper company, raising capacity by over 50% to around 1.5 million tonnes

Conglomerate ITC has completed the acquisition of Century Pulp and Paper (CPP), becoming India's largest integrated paperboards and paper company.

 

In a regulatory filing on Saturday, the company said it had completed the acquisition of the pulp and paper business of Aditya Birla Real Estate Limited, operated under the name Century Pulp and Paper, along with its assets, liabilities, contracts and employees, as a going concern on a slump sale basis, in accordance with the Business Transfer Agreement dated March 31, 2025.

 

The acquisition — ITC's largest at ₹3,500 crore — formally integrates the business into the company's paperboards and specialty papers portfolio.

 

 

Commenting on the completion of the acquisition in a LinkedIn post, ITC Chairman and Managing Director Sanjiv Puri described it as a “defining milestone” for the company’s paperboards and specialty papers business.

 

“This marks the coming together of two enterprises united by a shared commitment to excellence, innovation, competitiveness and sustainable value creation. The acquisition of CPP significantly strengthens our paperboards and specialty papers business by enhancing scale, reinforcing our presence in northern India, and expanding access to key raw materials and customers,” he said.

 

“With this addition, ITC further consolidates its position as India's largest integrated paperboards and paper business, with total capacity increasing by over 50 per cent to approximately 1.5 million metric tonnes,” he added.

 

The acquisition was first announced in March 2025 as part of ITC’s strategy to accelerate the next phase of growth in its paperboards and specialty papers business.

 

Highlighting the long-term opportunity in the sector, Puri said that as India continues on a strong growth trajectory, demand for high-quality paperboards, sustainable packaging solutions and alternatives to plastic is expected to rise significantly. “Together, we are well positioned to seize these opportunities through innovation, operational excellence, and a shared commitment to sustainability.”

 

Welcoming CPP employees to the ITC family, Puri said their experience and expertise would play an important role in driving the next phase of growth, competitiveness and value creation.

 

Paperboards was one of ITC’s early diversification bets, dating back to 1979, when it set up ITC Bhadrachalam Paperboards Ltd. In March 2002, Bhadrachalam Paperboards merged with ITC and became a division of the company.

 

Later that year, the Tribeni Tissues division was also merged to form the paperboards and specialty papers division.

 

In 2004, ITC further consolidated its position as the largest paperboard company by acquiring the paperboard manufacturing facility of BILT Industrial Packaging Co (BIPCO) near Coimbatore, Tamil Nadu.

 

The CPP acquisition is expected to strengthen the company's nationwide presence and position it to capitalise on rising demand for paperboards, sustainable packaging solutions and alternatives to plastic.