PAG acquires majority stake in Pravesha Industries for $200 million

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Subscribe to enjoy similar stories. BENGALURU : Asia Pacific-focused private equity firm PAG has acquired a majority stake in Pravesha Industries Pvt.

Ltd for $200 million, according to a person familiar with the transaction. This marks PAG’s second investment in the packaging sector in just two months, following its recent deal to acquire a stake in India’s largest packaging company, Manjushree Technopack, which is valued at $1 billion.

The firm’s aggressive strategy in the packaging space underscores the sector's substantial growth potential, driven by demand across India’s consumer, industrial, pharmaceutical, and export industries. Read this | Diaper maker Nobel Hygiene eyes up to ₹200 cr in funding led by Neo Group’s investment arm While Manjushree serves a diversified customer base spanning consumer end-markets such as home care, personal care, food and beverages, paints, nutraceuticals, agrochemicals, liquor and spirits, and dairy, Pravesha stands out as a specialized player, focusing solely on pharmaceutical packaging.

“India’s packaging sector has been one of our focuses, given its exposure to key themes driven by India’s domestic manufacturing, consumer and industrial sectors, particularly the strength of the country’s pharma export industry, leading to an expected double digit industry growth over the next decade and beyond," Nikhil Srivastava, partner & managing director, head of India Private Equity at PAG said in a statement on Monday. While financial terms of the deal were not disclosed, Srivastava emphasized that Pravesha would play a pivotal role in expanding PAG’s portfolio in the packaging sector, contributing to both organic and inorganic growth moving forward.