PAG Acquires Majority Stake in Pharma Packaging Player Pravesha Industries This move underscores PAG's continued focus on India's burgeoning packaging industry, following its recent investment in Manjushree Technopack.
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PAG, an Asia-Pacific-focused private equity firm, has acquired a majority stake in Pravesha Industries Private Limited, a leading packaging solutions provider for the pharmaceutical sector.
This move underscores PAG's continued focus on India's burgeoning packaging industry, following its recent investment in Manjushree Technopack.
India's packaging sector is poised for significant growth, driven by domestic manufacturing and robust pharma exports. "The sector aligns with India's strengths in manufacturing and pharma exports, projecting double-digit growth for the next decade," noted Nikhil Srivastava, Partner and Managing Director, Head of India Private Equity at PAG.
Established in 1999, Pravesha Industries operates four manufacturing facilities across India, employing over 1,950 people. The company produces more than 15,000 metric tonnes of plastic packaging and over two billion cartons, labels, and leaflets annually, primarily for international markets like the US and Europe.
Srivastava emphasized PAG's commitment to fostering Pravesha's growth, both organically and through strategic acquisitions. "Pravesha is a valuable addition to our packaging investments, and we are eager to accelerate its growth trajectory," he said.
Outgoing director Bomma Sivaprasad Reddy expressed optimism about the partnership. "With PAG's strategic vision and expertise, Pravesha is well-positioned for its next growth phase," Reddy stated.
This acquisition reaffirms PAG's strategic investment in India's thriving packaging sector, highlighting its potential to support global pharmaceutical supply chains.
