TCPL to acquire a majority stake in Creative Offset Printers
TCPL Packaging, one of India’s leading producers of sustainable packaging solutions for customers across industries, has announced that Noida’s Creative Offset Printers (COPPL) will come under its ownership after the company entered into a definitive share purchase agreement.
18 Nov 2021 | 6752 Views | By Noel D'Cunha
The TCPL’s Board of Directors approved the acquisition of a majority stake (60% equity stake) of COPPL. The completion of the transaction, however, is subject to satisfactory accomplishment of certain conditions precedent.
Today, headquartered in Mumbai, TCPL is considered one of the 1,000 fastest-growing companies in the Asian- Pacific region with plants in Silvassa, Haridwar, Guwahati and Goa.
Saket Kanoria, managing director at TCPL said the Creative deal is a natural progression. “We are delighted to announce the acquisition of a majority stake in COPPL, which is a strategic step towards enhancing the company’s future growth prospects. This tuck-in acquisition complements our existing business model and offers us many synergistic opportunities that should play out over the next few quarters. We would also like to welcome on board the pro-moters and senior management of COPPL and look forward to achieving larger scale in this business together.”
The acquisition is aligned with TCPL’s strategic objective to grow by leveraging its scale and institutional capabilities in a largely unorganised industry. With both entities having manufacturing facilities in close proximity, TCPL anticipates deriving notable synergies including rationalisation and optimisation of various costs.
Akshay Kanoria, executive director at TCPL, said, “The acquisition will allow TCPL to enter into the high potential rigid boxes segment focused on one of the fastestgrowing smartphone markets in the world. COPPL’s manufacturing facility is strategically located at Noida to target the large upcoming mobile manufacturing hub in India.”
The 1.65-lakh sqft two-storeyed plant in Kundaim, Goa
After becoming the second- largest mobile manufacturing country in the world a few years back, India is aiming for the top position with production-linked schemes (PLI) to attract global majors. “We are really looking forward to working with Rohit Khanna and the Creative team to build a truly worldclass company. With Creative’s experience and strength in the rigid box and electronics space, married to our scale and technology we can really create something special.
Meanwhile, the capacity expansion of the flexible packaging plant in Silvassa , as well as the new MDO PE film line under TCPL Innofilms, is progressing well, and is expected to commercialise in Q4 FY22. “We are very confident of the success of this venture and looking forward to taking advantage of the long term push for sustainable packaging solutions,” said Akshay.
TCPL’s joint venture with Halma Solutions
TCPL has signed a joint venture agreement with the Netherlands-based Halma Solutions to set up a paper cup factory. The new facility in Goa, at a top location, is expected to be up and running by April 2022. Akshay Kanoria of TCPL, said, “With our technical strength and experience and Maarten’s vast knowledge in the paper cups and disposables segment, we aim to be the best factory in India and one of the best in the world for disposable products.”