PAG Acquires Majority Stake In Pravesha Industries

Hong Kong-based PAG, an investment firm focused on the Asia-Pacific region, has acquired a majority stake in Pravesha Industries, a pharmaceutical packaging company, valued at $200 million, according to a statement.

PAG said this acquisition reflects its focus on tapping into the growth potential of India's pharmaceutical packaging sector, boosted by strong export demand.

The deal comes after PAG acquired a majority stake in Manjushree Technopack, India's largest rigid plastic packaging company, in a $1 billion transaction.

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Nikhil Srivastava, Partner and Managing Director, Head of India Private Equity, PAG, said, “India’s packaging sector has been one of our focuses, given its exposure to key themes driven by India’s domestic manufacturing, consumer, and industrial sectors, particularly the strength of the country’s pharma export industry, leading to an expected double-digit industry growth over the next decade and beyond."

“Pravesha will be a significant and valuable part of our investments in the packaging sector, and we are eager to drive the company’s growth organically and inorganically in the future,” he added.

PAG’s investments in Pravesha and Manjushree show its confidence in India’s packaging industry, which is seen as a reflection of the country’s growing consumer, industrial and export sectors. 

With India’s packaging industry set to grow at a fast pace over the next decade, PAG is positioning itself as a major player in this market. 

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About Pravesha Industries

Founded in 1999 and based in Hyderabad, Pravesha Industries has four manufacturing plants across India, with over 1,950 employees. 

The company produces over 15,000 metric tons of plastic bottles, closures, and drums each year, along with two billion cartons, labels, and leaflets. About 95% of its products are exported to developed markets like the US and Europe.

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