Premji Invest buys a major stake in SB Packagings

In SB Packagings, a manufacturer of flexible packaging for the hygiene segment, Premji Invest has bought a major stake.

Invest has not disclosed the quantum of the stake purchased.

As per SB Packagings, the transaction primarily involves partial stake sale by shareholders and infusion of primary capital for capacity expansion and acquisitions.

The company was founded in 1989 and it supplies flexible packaging materials in India to customers including P&G, J&J, Unicharm, Kimberly Clark, Nobel Hygiene, Walmart, Future Group, PepsiCo, Dabur, and Tata.

After the transaction, Managing Director of SB Packagings Amit Banga will remain a significant shareholder and would continue to drive the business.

“With backing from Premji Invest, one of India’s leading PE investors, we look forward to further expanding our capabilities through organic and inorganic routes thereby strengthening our position in the Indian flexible packaging Industry,” said Banga.

Premji Invest has been active in India for over 10 years. The focus has been on growing medium-sized Indian companies into large firms that can compete globally. Premji Invest has invested across sectors like consumer, financials, technology, and manufacturing in brands such as Fab India, Hygienic Research, ID foods, Lenskart, PolicyBazaar, Flipkart, Gold Plus Glass, and Shubham Housing.