TCPL to acquire a majority stake in Creative Offset printers
Mumbai, November 03, 2021: TCPL Packaging Limited (TCPL), one of India’s leading producers of sustainable packaging solutions for customers across industries, today announced that its Board of Directors has approved the acquisition of a majority stake in Creative Offset Printers Private Limited (COPPL). The Company has entered into a definitive share purchase agreement to acquire 60% equity stake of COPPL. The completion of the transaction is subject to satisfactory accomplishment of certain conditions precedent.
With this acquisition, TCPL enters into the high potential rigid boxes segment focused on one of the fastest growing smartphone markets in the world. COPPL’s manufacturing facility is strategically located at Noida to target the large upcoming mobile manufacturing hub in India. 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. This augurs well for the high-end rigid box manufacturing sector catering to the mobile industry.