Ansa’s Folding Carton (AFC) has acquired a strategic stake in Rich Printers, a prominent producer of paper packaging materials for the pharmaceutical industry, at an enterprising valuation of INR 117 crore.
With this, the combined entity will now operate five paper conversion manufacturing plants in India, reportedly making it the largest pharmaceutical folding carton producer in the country. The expanded operations will enable Ansa’s Folding Carton vertical to better serve its customers and meet the growing demand for high-quality cartons across a spectrum of industries.
Rich Printers is renowned for its unwavering commitment to brand excellence, quality, and innovation within the folding carton industry. Equipped with three state-of-the-art manufacturing facilities boasting cutting-edge technology and equipment, Rich Printers has mastered the production of high-quality folding cartons with exceptional speed and precision. The newly formed entity will possess an impressive paper conversion capacity of 40,000 tonnes next year and is committed to doubling its size in the years to come.
According to Ansa, this strategic move not only complements the existing portfolio but also leverages the strength of Ansa’s Pharma Flexible vertical, which is India’s largest player in the pharmaceutical flexible packaging sector. The combined entity will now operate nine facilities strategically situated across key Indian states, including Maharashtra, Gujarat, Himachal Pradesh, West Bengal, and Sikkim, further solidifying its market presence.
“Rich Group is excited to join hands with Ansapack family,” said Tushar Shah and Nayan Shah in a joint statement, directors of Rich Printers. “ We at Rich have had a heritage of serving our customers in the folding carton manufacturing space and see parallels with AFC who have had a similar long-standing reputation. AFC’s deep understanding of the domestic market, their vision of sustainable growth, and other complimentary business verticals in the pharma packaging space within the group, make them the clear choice for partnering.“
Gautam Agarwal and Aditya Agarwal of AFC emphasized that this partnership would fortify their manufacturing capabilities and underscore their steadfast commitment to offering circular and sustainable product solutions aligned with the vision of becoming a global supply hub for converted paper products. The acquisition is a pivotal step in AFC’s strategic growth plan, highlighting its dedication to expanding operations pan India. The organization remains committed to exploring inorganic growth opportunities to serve the evolving needs of its customers.
