Janus Packaging Pvt Ltd, a Himachal-Pradesh-based packaging and printing company, has sold its 65 per cent stake in the firm to Germany based Carl Edelmann GmbH (Edelmann). The deal value is not disclosed yet.
Post transaction, Edelmann will hold 65 per cent stake and the remaining 35 per cent will be held by Janus' existing promoters.
"The rationale of this acquisition is to capture synergies by combining Edelmann’s technological prowess with Janus’s thorough knowledge of Indian market," the company said.
Corporate Catalyst India Pvt Ltd acted as the advisor to Janus for this transaction.
Incorporated in 2004, Janus has its manufacturing unit in Himachal Pradesh and is engaged in manufacturing folding carton packaging; it offers innovative packaging solutions along with conventional packaging services.
Edelmann manufacturers packaging and folding cartons, packaging inserts and system solutions. The company caters primarily to health and beauty care markets, pharmaceutical packaging, premium consumer good products, mainly cosmetics, hair coloration, confectionery and cigarettes, as well as leaflets and labels.
It has 12 production sites globally. Of these, seven are in Germany, three in France, Poland and Hungary and two in China and Mexico.
(Edited by Joby Puthuparampil Johnson)