The Indian operations of privately owned and Chandan Khanna
lead Ajanta Packaging has been acquired by Mumbai headquartered Huhtamaki-PPL. Ajanta
packaging has been a leading provider of labels with units at multiple
locations. They have factories at Daman and Baddi.
Huhtamaki-PPL Ltd. or HPPL (Previously
known as Paper Products Limited) is a Rupees 2200 Crores flexible packaging
company in India and is listed on the Indian stock Exchanges since more than 50
years. They are providers of flexible packaging, labels, tube laminate webs, thermo
formable laminates, promotional materials, and gravure cylinders. The parent
company Huhtamaki OYJ is a NASDAQ listed packaging company with a turnover
exceeding 3 Billion Euros.  |
| Amar Chhajed |
In November 2012, they acquired Amar Chhajed lead
Webtech labels and with this move they became market leaders also in the label
segment besides Shrink Sleeves, Wrap Around and Wet Strength Labels as well as
IML making it the only true and complete Labeling solutions provider in the
country. Amar Chhajed now heads all the labeling businesses of Huhtamaki-PPL as
President.
HPPL has entered into a business
Transfer Agreement for acquisition of the business of Ajanta Packaging India as
a slump sale at an enterprise valuation of Rupees 1003 million, on a cash free
debt free basis. The merger will enable customers to get benefits of new
technologies and stronger innovation capability. This partnership will further
consolidate HPPL’s position of being the leader in labeling market in India.
 |
| Chandan Khanna |
Chandan Khanna says, "this move will
make the label market in India to grow in a healthy way. The expanded market
reach and size of HPPL will help them serve the customers better with further
enhancement on service quality. Moreover the enhanced capabilities will help
them offer superior and innovative products."
Reported by Harveer Sahni, Chairman Weldon Celloplast Limited New Delhi March 2018.
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