Printmann gains Somerset funding for growth

Printmann who bagged the Packaging Company of the Year - Folding Cartons (Boutique) during the PrintWeek Awards 2023, announced the induction of Somerset Indus Capital Partners as a minority investor in the business. The announcement was made in the presence of Printmann's employees, customers and packaging partners during an event in Navi Mumbai.

14 Feb 2024 | By Ramu Ramanathan

Printmann Offset announces minority investment from Somerset Indus Capital partners

The mood in the room was bullish with the announcement of minority investment for Printmann. As Ankit Tanna shared with WhatPackaging?: "The investors reaffirmed confidence in our business. This will enable us to expand our product portfolio and applications, plus look into new markets. Tejas Tanna commented: “This investment is a testament to the shared commitment of our backers, who can see that Printmann's products are the gateway to a new era in packaging."

Printmann, who is a pioneer in manufacturing paper-based packaging products such as cartons, leaflets, labels and foils has announced the induction of Somerset Indus Capital Partners as a minority investor in the business.

Bipin Tanna, the founder of Printmann told WhatPackaging? that "The funds would be deployed to accelerate Printmann’s growth, through pursuing both organic and inorganic growth initiatives". In addition, Printmann also announced a new initiative - the subsidiary Pakcellence which would make "in-roads into innovative and sustainable solutions like the Gable Top business etc."

Printmann came into being on 13 February 1987. Which is why the event, 37 years later on 13 February 2024 at the Taj Vivanta, had special significance. The theme of the evening was Printmann 2.0, signifying "a new growth path of continuing to unlock new opportunities whilst enhancing the operational capabilities with an ultimate objective of maximising the value for Printmann and all its stakeholders."

Highlighting the collaboration, Avinash Kenkare, Mayur Sirdesai and Sharad Ladha, all partners at Somerset Indus Capital Partners said, As we embark on this exciting journey with Printmann, we remain committed to leveraging our resources, expertise, and extensive network to support their strategic initiatives. We are excited about the prospects of this partnership and look forward to a fruitful collaboration with Printmann’s talented team."


Tejas Tanna and Ankit Tanna presented the blueprint of the way forward for the benefit of the delegates

During a presentation by the Somerset team what emerged was "Somerset Indus Capital Partners’ investment philosophy is to partner with dynamic companies poised for transformative growth and this investment further solidifies their commitment to fostering growth and innovation within the pharma and healthcare industry."

Bipin Tanna said, "Today Printmann has a leadership position in the paper packaging industry especially in the pharma sector and I am confident that this investment from Somerset Indus Capital Partners will fast-track our growth trajectory in new markets and in other high growth sectors and accelerate new product development initiatives. We look forward to a fruitful collaboration with Somerset in the years to come."

Tejas Tanna and Ankit Tanna who presented the blueprint of the way forward for the benefit of the delegates said, "We look forward to welcoming Somerset to partner with us as we embark on this exciting journey, and we look forward to leveraging Somerset’s resources and expertise as we further fortify our presence across markets and build a brand name for Printmann globally."

EY acted as the exclusive sell-side advisor to Printmann, DSK Legal acted as the legal advisor and Marathon Edge provided vendor assist services on this deal.

Latest Poll

Which is the sustainable packaging product among MSMEs that is most popular?

Results

Which is the sustainable packaging product among MSMEs that is most popular?

Bagasse and biodegradable boxes

 

23.08%

Corrugated boxes

 

46.15%

Paper bags

 

30.77%

Recyclable plastic (bubble wraps, bio-plastic)

 

0%

Total Votes : 13

Events

PackVision Expo 2024

Jun 13 - Jun 15 2024
Pune is set to host its first packa....