Vaibhav Global to acquire 60% stake in Encase Packaging for Rs 4cr

Vaibhav Global Limited has signed agreements to acquire a 60% stake in Encase Packaging Private Limited for INR 4 crores.

The acquisition will be executed in nearly two months, said Vaibhav Global, which is an Indian E-tailer of fashion jewellery, accessories, and lifestyle products,

Encase Packaging, which is headquartered in Sri City, Andhra Pradesh, is involved in manufacturing and trading of all types of packaging material.

Presently, Vaibhav Global is said to be depending largely on procuring packaging material from China for its jewellery products. The acquisition of majority stake in Encase Packaging will therefore further bolster its supply chain network to give the necessary flexibility and cost advantage, said Vaibhav Global.

Vineet Ganeriwala — Vaibhav Global Group CFO said: “We welcome Encase Packaging as a part of VGL Group. The acquisition will further consolidate our existing integrated supply chain and give substantial saving in packaging cost of jewellery products. Besides this will also strengthen our efforts towards developing a sustainable packaging for our products”