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2015-03-18

Kedaara Capital picks up stake in Mumbai-based Parksons Packaging for Rs 200 cr

Parksons has received Rs 50 crore in private equity investment from ChrysCapital in return for a minority stake.

Private equity firm Kedaara Capital has acquired an undisclosed stake in Mumbai based Parksons Packaging, a manufacturer and exporter of printed and laminated folding cartons for Rs 200 crore ($31.8 million).

"This is an opportune time to invest in the Indian packaging sector, with Parksons being well-positioned to benefit from the growth in the Indian consumption story," said, Manish Kejriwal and Sunish Sharma, Managing Partners, Kedaara Capital Advisors.

Parksons has received Rs 50 crore in private equity investment from ChrysCapital in return for a minority stake. MAPE Advisory Group, acted as the sole financial advisor to Parksons Packaging Limited.

Parksons Packaging was established in 1996 by Ramesh Kejriwal and is managed by him along with his two sons and a highly qualified team of packaging professionals. The company's state-of the-art manufacturing unit is located in Daman and plans are currently underway to establish a new plant at another strategic location as part of the expansion initiative.

The company has a rich portfolio of blue-chip clients spanning sectors like pharmaceuticals, FMCG, food & beverages and household products. The company is also servicing customers within new, emerging industries such as electronics and other white goods.

"ChrysCapital has been a supportive partner in our journey so far. Kedaara's operating model will enhance Parksons' performance, bringing in global experience and best practices," said Ramesh Kejriwal, Chairman, Parksons.
 

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