Deal Closed | Manjushree Technopack Limited | Acquisition of Pearl Polymers Limited

The details of the deal are as follows:

Sector: Packaging

Announcement Date: 22-Sep-2020

Name of Client: Manjushree Technopack Limited

Buyer Name and Description: Manjushree Technopack Limited | India 

Manjushree Technopack Limited is engaged in the business of providing integrated packaging solutions to its customers with innovative cutting-edge technologies. It is engaged in the manufacture and sale (both domestic & internationally) of PET/ plastics preforms and containers. Advent International, a US-based private equity firm, holds a majority shareholding in Manjushree Technopack Limited.

Seller Name and Description: Pearl Polymers Limited | India

Pearl Polymers Limited is a leading manufacturer of rigid packaging and house-ware products since 1984

Deal Description: Khaitan and Co advised Manjushree Technopack Limited in relation to acquisition of the entire B2B business of Pearl Polymers Limited (a leading manufacturer of rigid packaging and house-ware products), by way of a business transfer on a slump sale basis.

Total Consideration: Confidential

Team Members: The core transaction team consisted of Aashutosh Sampat (Partner), Aastha Khurana (Principal Associate), Gautam Suseel (Senior Associate), Angeline Benny (Associate) and Tanvi Dabir (Associate) with assistance from the following:

Real Estate aspects: Devendra Deshmukh (Partner) and Amruta Joshi (Senior Associate);

Intellectual Property aspects: Shailendra Bhandare (Partner), Sourav Dan (Senior Associate) and Rhea Ghanshani (Associate); and 

Employment Law aspects: Anshul Prakash (Partner) and Abhimanyu Pal (Senior Associate)

Role of Firm: Counsel to the Buyer, Manjushree Technopack Limited

Undertook due diligence of the target business and advised on the structuring of the transaction, negotiations and finalisation of transaction documents.

Other legal advisors if any: JSA