Blackstone Group Company, Graham Packaging acquires 22% stake in PPI Blowpack
Graham Packaging, a Blackstone Group Company and a world leader in packaging, has acquired 22% stake for an undisclosed amount in PPI Blowpack, a leading Indian manufacturer of plastic containers.
Tweet-- GrahamPackaging, a Blackstone Group Company and a world leader in packaging, hasacquired 22% stake for an undisclosed amount in PPI Blowpack, a leading Indianmanufacturer of plastic containers.
PPIBlowpack manufactures recyclable rigid plastic containers for the food,pharmaceutical, chemical and FMCG markets and has sophisticated manufacturingfacilities in Daman, Haridwar and Umbergaon. Its clients include many blue chipcompanies like Heinz, Castrol, BASF, Monsanto, Cadbury, DuPont,Glenmarkand Shalimar.
Basedin York, Pennsylvania, Graham Packaging is a worldwide leader in the design,manufacture and sale of technology-based, customized blow-molded plasticcontainers for the branded food and beverage, household, personal care/specialty,and automotive lubricants product categories.It produces more than 20 billion container units annually at 82 plantsin North America, Europe and South America and had sales of $2.58 billion in2008.
AshokSudan, Executive Vice President & General Manager, Graham Packaging said,“This is an important step in the expansion of Graham Packaging’s globalreach”. He added, “India is a vibrantgrowth market in which we are excited about participating. We believe that aligning with acustomer-focused company like PPI Blowpack is the beginning of great successstory.”
PuneetDeora, Managing Director, PPI Blowpack said, “Graham Packaging is a globalleader serving a large number of the world’s leading branded consumer productcompanies, many of whom have a presence in India. PPI Blowpack will benefit immensely from thisassociation and looks forward to rapid growth.”
PPIBlowpack belongs to the Deoras Group of Companies (www.deorasgroup.com) which has interestsin packaging, education and real estate.
OneWorld Resources acted as the sole financial advisor to PPI Blowpack in thistransaction.