JK Paper broadens reach in Indian packaging market with MUPSPL buyout

Leading the way in India’s paper and packaging industry, JK Paper has announced its acquisition of 100% shares of Manipal Utility Packaging Solutions Private Limited (MUPSPL). The deal solidifies JK Paper’s foothold in the thriving Indian packaging market, which has been propelled by surges in end-use sectors like Food & Beverage and FMCG.

An Overview of MUPSPL’s Credentials

MUPSPL, recognized for its production of packaging products such as Folding Cartons, Corrugated Boxes, and Labels, operates from four diverse manufacturing plants throughout India. In the financial year 2022-23, MUPSPL posted impressive revenues, clocking in at Rs. 147.77 Crores. The acquisition reflects the upward trajectory of the packaging business, which is among the fastest-growing sectors in the Indian Paper and Packaging domain.

Anticipated Synergies from the Acquisition

Beneficiaries of this strategic move extend beyond stakeholders to encompass MUPSPL’s customers, employees, vendors, and partners. With JK Paper’s renowned expertise in manufacturing, high operational standards, robust financial management, and steadfast corporate governance, MUPSPL is poised for a future of amplified growth and enhanced operational efficiencies.

Expert Commentary on the Deal

Harsh Pati Singhania, the Vice Chairman and Managing Director of JK Paper Ltd., weighed in on the acquisition: “This acquisition is in line with the longterm strategic objective of the Company in the Packaging business and gives us an opportunity to offer combined solution to the customers with respect to Secondary and Tertiary packaging, improve operational efficiencies and ensure that MUPSPL grows and adds value to stakeholders.”