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 continue to develop our businesses together. This JV enables SBP to have a pan India presence across 9 manufacturing locations.” said Amit Banga, Managing Director of SB Packagings. 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.
KPMG India acted as the exclusive financial advisor to Constantia Flexibles for the transaction.
About SB Packagings
SB Packagings founded in 1989 by Mr. O.P Banga & Mr. Amit Banga, is one of the leading flexible packaging companies based out of India. SBP group over the past 4 decades, has been at the forefront of manufacturing mono-polymer sustainable packaging much ahead of its peers. It has won various awards and global accolades for its innovation & printing excellence. In 2022, it was chosen as the ‘Packaging Company of the Year’ by
PrintWeek and won the “WorldStar” award at Milan for sustainable packaging and also the ‘Gold’ at the Asian Packaging Excellence Awards. SBP with over 50% market share is by far the largest company manufacturing hygiene packaging for leading global and Indian brands. SBP also has a strong footprint in the Food and Beverages space.
About Constantia Flexibles
Constantia Flexibles is the world’s third largest producer of flexible packaging. Based on the guiding principle of ‘People, Passion, Packaging’, 8,750 employees manufacture tailor-made packaging solutions at 38 sites in 16 countries. Many international companies and local market leaders from the consumer and pharma industries choose the sustainable and innovative products. Sustainability is a top priority at Constantia Flexibles: the company was rated Level A by Climate Change Leadership (CDP) in 2021 and Gold by EcoVadis in 2022.
About Premji Invest
Premji Invest’s (PI) investments primarily support the philanthropic initiatives of the Azim Premji Foundation, a not-for-profit organisation that seeks to help improve the lives of the underserved and underprivileged in society. PI invests in India and overseas with the objective of building long-term sustainable capital to fund philanthropic initiatives and nurture the spirit of entrepreneurship in the country. PI invests in strategies across public and private markets across industries, including technology, consumer, financials, manufacturing and healthcare industries. Investments of Premji Invest include Fab India, Hygienic Research, ID Foods, Lenskart, Policy Bazaar, Flipkart, Gold Plus Glass, SBI General Life Insurance, Best Value Chemicals, Sagar Cements, Micro Plastics and Shubham Housing.