Huhtamaki PPL (formerly The Paper Products) and the shareholders of Positive Packaging Industries, India have entered into a definitive agreement pursuant to which, Huhtamaki PPL India will acquire 100% of Positive Packaging Industries, India for a total enterprise value of Rs 818 crore inclusive of debt and subject to closing adjustments.
This transaction is subject to various statutory approvals including Competition Commission of India and RBI clearance before closure, and is expected to close by Q4, 2014.
Positive Packaging Industries, India is a company engaged in the business of Flexible packaging with an annual turnover of approximately Rs 1,000 crore.
Huhtamaki PPL is a leading consumer packaging company in India. The company offers a wide portfolio of packaging solutions that includes flexible packaging, labeling technologies and specialized cartons.
