JK Paper acquires majority stake in Horizon Packs and Securipax Packaging

JK Paper to acquire 85% stake Horizon Packs and Securipax Packaging aggregating to Rs 600cr.Both companies together are together India’s largest Corrugated Packaging manufacturers. The balance 15% stake to be acquired in the next 3 years and it will be an all-cash deal. Deal happened at a combined valuation of price to sales value of 0.72 times. Combined revenue for both Horizon Packs and Securipax Packaging will be Rs 832 crore and they will have 7 manufacturing units. JK Paper’s upcoming corrugated facility in Ludhiana will establish it as the largest player in the corrugated packaging industry. Corrugated packaging has seen strong demand from end user industries.