Siegwerk eyes 20% flexible packaging share following Hi-Tech Inks acquisition

Siegwerk, a global leader in printing inks and coatings for packaging applications, announced the signing of a definitive agreement to acquire Hi-Tech Inks, a prominent Indian producer of flexographic and gravure printing inks. The move will make the combined entity the largest player in India’s fast-growing flexible packaging market, commanding over 20 percent market share.

The acquisition is Siegwerk's largest since it purchased SICPA's packaging inks business in 2005, reinforcing the company's long-term commitment to India and the broader Asia region, a key strategic growth market.

By uniting their complementary strengths, expanded production capabilities, and a wider product offering, Siegwerk is positioned to deliver enhanced value, innovation, and supply reliability to brand owners and packaging converters nationwide. Hi-Tech Inks will add a robust portfolio to Siegwerk's global offerings, including solvent- and water-based inks, metallic and special-effect inks, varnishes, and over print varnishes (OPVs).

Operationally, the integration will boost Siegwerk’s manufacturing footprint in India with dual sites in Bhiwadi, Rajasthan, and Vapi, Gujarat, improving capacity and operational resilience. The combined organisation is expected to employ approximately 1,700 people across India.

Ashish Pradhan, the president of Siegwerk Asia, welcomed the move, stating that Hi-Tech Inks has "built an impressive legacy of quality, agility, and customer focus". He emphasised that the acquisition "will strengthen our position in India's flexible packaging market and will expand our ability to serve customers with greater scale, capability, and innovation".

Karan Mahajan, the managing director of Hi-Tech Inks, highlighted the alignment of values, noting that Siegwerk’s commitment to quality, sustainability, and customer focus perfectly matches Hi-Tech Inks' standards. He called joining the Siegwerk family a "significant milestone," which will create new opportunities to "grow, innovate, and deliver even greater value to customers across India’s flexible packaging industry".

Completion of the transaction is expected in the coming weeks, subject to customary closing conditions. The companies anticipate uniting their expertise and shared values to lead the next phase of India’s printing inks and coatings industry, driving future innovation, growth, and sustainable value creation.