Advent International invests in Manjushree Technopack

Advent International invests in Manjushree Technopack, India’s largest rigid plastic packaging solution provider, through a secondary purchase from Kedaara Capital and the promoter family. Manjushree’s Founder and Managing Director, Vimal Kedia, and the rest of the company’s senior management team will remain closely involved in the business. Financial terms of the transaction were not disclosed. “Manjushree Technopack is the market leader in an industry with strong growth tailwinds,” said Shweta Jalan, Managing Director and Head of India for Advent International. “The rigid plastic packaging market is expected to expand 15% per year over the next five years, driven by underlying growth in consumer end markets, the continued shift from glass and paper to plastic packaging and the introduction of new products.”