Nilesh Todi, founder and managing director, Canpac spearheads the company with its printing and packaging plants in Gujarat, Tamil Nadu and West Bengal. It employs 700 people including over a hundred technical experts to run the stations. Its packaging solutions offer corrugated cartons, flexible laminate pouches, paper bags, and rigid boxes.

As the readers of PrintWeek and WhatPackaging? may recall that in October, Canpac set up a sustainable division to offer eco-friendly packaging within the eCommerce and retail domains called “Altpac”.

Junior director at Canpac, Raag Todi previously cited a report that “the global eco-friendly packaging market is expected to reach USD 269-billion by 2030”, driven by growing awareness among brands and consumers for the planet. “As the phygital form of commerce expands, so will the demand for product packaging. As part of our responsibility to the environment, we will continue to invest in a sustainable future."

Canpac joined hands with the global alternative investment firm Investcorp. The fund raised Rs 340-crore, and this number backs up the growth of the company. “The investment will help Canpac expand its production footprint to more manufacturing hubs, apart from scaling up sales capabilities,” said Todi after the acquisition.

In this acquisition, the Indian public sector bank SBI bought 3,70,000 shares at Rs 1,349 apiece. It positioned a 6.35% stake worth Rs 49.9-crore, and prompted the partial exit of JM Financial's second India fund.