Advent-backed Manjushree Technopack completed the acquisition of Hitesh Plastics.

Advent-backed Manjushree Technopack, a manufacturer of rigid plastic packaging, completed the acquisition of Hitesh Plastics, a manufacturer of plastic caps and closures in India. Financial terms were not disclosed. "We are excited to continue our journey of rapid growth and meaningful diversification within the rigid plastics sector. In recent years, MTL has successfully complemented its organic growth with synergistic acquisitions, and we intend to continue to do so opportunistically. To date, Caps and Closures has been the missing piece in MTL’s product suite for the beverages segment, and we are excited to add it to our portfolio in a sizable and margin accretive manner through the acquisition of Hitesh Plastics. We believe this will make us a one stop shop for all RPP requirements and further deepen our relationship as strategic partners, to some of the country’s largest beverage companies," Thimmaiah Napanda, Manjushree Technopack Managing Director and CEO.