CCI Approves Share-Swap Acquisition of C-Flex India Entities by SBP

The Competition Commission of India (CCI) has approved a share-swap deal for the acquisition of C-Flex India Entities by SBP. In return, C-Flex will be issued certain shareholding in SBP. This article delves into the details of the proposed combination, the involved companies, and the significance of the acquisition in the flexible packaging industry.

CCI Approves Share-Swap Acquisition of C-Flex India Entities by SBP

Overview of the Proposed Combination

The proposed combination encompasses the acquisition of the entire shareholding of Constantia Flexibles Sales B.V. (C-Flex) in the following companies:

i) Parikh Packaging Private Limited (Parikh Packaging);

ii) Creative Polypack Private Limited (Creative Polypack);

iii) Aparna Paper Processing Industry Private Limited (Aparna Paper);

iv) Vibgyor Printing and Packaging Private Limited (Vibgyor); and

v) Parikh Flexibles Private Limited (Parikh Flexibles).

These companies are collectively referred to as the ‘Targets’ or the ‘C-Flex India Entities’. The acquisition will be carried out by S.B. Packagings Private Limited (SBP).

As part of the transaction, C-Flex will receive a certain shareholding in SBP.

About SBP and C-Flex

SBP Packagings Private Limited is a manufacturer of flexible packaging materials. It is a portfolio entity of PI Opportunities Fund I Scheme II (PIOF Scheme II), which is owned and controlled by the Premji Invest Group.

The C-Flex group is involved in the production and sale of flexible packaging materials. It is ultimately owned and controlled by WENDEL S.E. (WENDEL). In India, C-Flex operates solely through the C-Flex India Entities. WENDEL is engaged in acquiring and managing investment portfolios.

Targets’ Business Activities

Each of the Targets is engaged in the manufacturing of flexible packaging materials. They primarily cater to customers operating in both food and non-food product segments.

Implications of the Acquisition

The approval from the CCI paves the way for the consolidation of these businesses under SBP, which is expected to result in a stronger market position within the flexible packaging industry. The combination of resources and expertise will allow the new entity to provide a wider range of products and services to its customers.

The detailed order from the CCI regarding this approval will be released in due course.


Leave a Reply