Mumbai-based Ansa Folding Carton has marked a significant milestone in its expansion strategy with the acquisition of a strategic stake in Rich Printers Private Limited (RPL), another prominent Mumbai-based company.
The deal, valued at Rs 117 crore, positions the combined entity as a major player in the paper conversion manufacturing sector in India, the companies said in a joint statement on January 2.
Ansa, known for its expertise in packaging solutions, will now operate five paper conversion manufacturing plants across India, following the acquisition. This strategic move is set to strengthen Ansa’s position in the market and enhance its ability to cater to the growing demand for high-quality cartons across various industries.
Rich Printers Private, a well-established player in the folding carton industry, boasts three state-of-the-art manufacturing facilities equipped with the latest technology and equipment. The newly formed entity is poised to achieve a paper conversion capacity of 40,000 tons next year, with a commitment to doubling its size in the years to come.
The strategic move aligns with Ansa’s vision for growth and complements its existing portfolio. The combined entity, with a total of nine facilities strategically located in key Indian states, including Maharashtra, Gujarat, Himachal Pradesh, West Bengal, and Sikkim, solidifies its market presence.
Tushar and Nayan Shah, Directors at Rich Printers, said, “We (at Rich) have had a heritage of serving our customers in the folding carton manufacturing space and see parallels with AFC who have had a similar long-standing reputation. AFC’s deep understanding of the domestic market, their vision of sustainable growth, and other complimentary business verticals in the pharma packaging space within the group, make them the clear choice for partnering.”
Gautam and Aditya Agarwal of Ansa emphasized this partnership would fortify their manufacturing capabilities and underscore their steadfast commitment to offering circular and sustainable product solutions aligned with the vision of becoming a global supply hub for converted paper products.
This acquisition is a pivotal step in Ansa’s strategic growth plan, demonstrating its dedication to expanding operations pan India. The organization remains committed to exploring inorganic growth opportunities to serve the evolving needs of its customers.