21 Jan 𝐒𝐁 𝐏𝐚𝐜𝐤𝐚𝐠𝐢𝐧𝐠𝐬 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐬 𝐉𝐕 𝐰𝐢𝐭𝐡 𝐂𝐨𝐧𝐬𝐭𝐚𝐧𝐭𝐢𝐚
𝐒𝐁 𝐏𝐚𝐜𝐤𝐚𝐠𝐢𝐧𝐠𝐬 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐬 𝐉𝐕 𝐰𝐢𝐭𝐡 𝐂𝐨𝐧𝐬𝐭𝐚𝐧𝐭𝐢𝐚
SB Packagings, a leader in the hygiene and recyclable packaging industry in India, and Constantia Flexibles, a leading global player in the flexible packaging industry, today announced they have entered into a joint venture (JV). This merger of SB Packagings, backed by Premji Invest, and Constantia India’s operations is in line with the vision of the stakeholders to create a dominant value-added packaging platform in India and South Asia.
“SB Packagings is known in the Indian packaging industry for its focus on sustainability and Innovation. We are delighted to enter into this joint venture with Constantia and look forward to continuing to develop our businesses together. This JV gives SBP Group a pan India presence across 10 manufacturing locations.” said Amit Banga, Managing Director of SB Packagings. Amit will drive the strategic imperatives of the JV to deliver sustainable and innovative solutions for customers in India and South Asia. O.P. Banga, Founder of SB Packagings, said that this JV with Constantia is a momentous milestone in the journey of SB Packagings and evinced optimism that the joint venture will scale new heights,
The JV will pursue both organic and inorganic growth opportunities in higher value-added market segments, continuing its strong growth trajectory in the hygiene, food and HPC segment even as it further develops the sustainable mono-material EcoLam product range. It will bring together mono-material capabilities of both Constantia Flexibles India and SB Packagings and offer medium to high-barrier packaging solutions to food and hygiene markets.
Transaction closure is subject to applicable regulatory approvals, and both parties expect the closure to be achieved by March end.