PAG Acquires Majority Stake in Pravesha Industries, Boosting India's Pharma Packaging Scene
In a strategic move, Asia-Pacific private equity giant PAG has acquired a majority stake in Pravesha Industries, marking its second venture into India's burgeoning packaging sector. Pravesha, a key player in pharmaceutical packaging with four manufacturing facilities, is set for growth with PAG's backing. This acquisition aligns with PAG's strategy following their investment in Manjushree Technopack, targeting India's expected double-digit growth in packaging over the next decade. With 95% of Pravesha's products exported to developed markets, the acquisition is poised to strengthen India's global packaging footprint.
Jan 17