Paper Products has acquired 51% of equity shares of Webtech Labels, a private limited company in the business of pressure sensitive labels with an annual potential turnover of approximately Rs 75 crore, for a consideration of Rs 37.70 crore in an all cash deal. The company has a total outstanding debt of approximately Rs 26.20 crore.
This acquisition is expected to benefit both companies positively - support the position of the company in the packaging industry further while giving a larger market access to Webtech Labels due to the present position of the company in the Indian flexible packaging industry.
Paper Products 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.
