Delhi-based SB Packagings (SBP) has said Premji Invest has invested for a significant stake in the Company. The transaction primarily involves partial stake sale held by the existing shareholders in SBP and infusion of primary capital for capacity expansion and for inorganic acquisitions to enable faster scaleup of its product portfolio for both domestic and International markets.
Founded in 1989, SBP is a leading manufacturer of flexible packaging materials in India, supplying to major players in the Hygiene and Food industry including P&G, J&J, Unicharm, Kimberly Clark, Nobel Hygiene, Walmart, Future Group, PepsiCo, Dabur, and Tata among other leading brands.
SBP has won various awards and global accolades for its innovation & printing excellence and is at the forefront in providing sustainable packaging solutions.
SBP was founded by O.P. Banga and is currently managed by his son Amit Banga, who has been in the business for the past 30 years. Post-transaction, Amit Banga will continue to remain a significant shareholder in the company and would continue to drive the business, supported by a professional management team further bolstered by the financial and strategic support from Premji Invest.
Commenting on the deal, Amit Banga said the company has grown steadily over the last decade, winning the trust and market share with its marquee global customers who have a very high threshold for quality and consistency.
“Innovation and Sustainability have been the core pillars of SBP’s business model. With the 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 Amit Banga.
O. P. Banga, Chairman Emeritus stated that the seeds sown four decades back have become a big tree now and this partnership with Premji Invest has my best wishes and blessings towards our vision of building a business around the needs of the society.
Premji Invest is the investment arm of Azim Premji’s endowment and philanthropic initiatives. It has been active in investing in the Indian markets for over ten years with large investment corpus. The focus of investments has been to grow medium-sized Indian companies into large companies that can compete globally.
Investments of Premji Invest is across sectors like consumer, financials, technology, and manufacturing and to name a few include, Fab India, Hygienic Research, ID foods, Lenskart, Policy Bazaar, Flipkart, Gold Plus Glass and Shubham Housing. Premji Invest is excited to partner with SB Packagings to help them scale to the next level of growth. EY and Khaitan & Co. acted as advisors to SB Packagings on this transaction