Alternative investment firm PAG acquires majority stake in Pravesha Industries

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Alternative investment firm PAG acquires majority stake in Pravesha Industries - YourStory

Quick Summary:

This marks PAG’s second investment in the packaging sector, following its recent deal to acquire a stake in packaging company Manjushree Technopack.

About 95% of Pravesha’s packaging products are used in developed markets such as the US and Europe.“As we embark on the next phase of growth, PAG brings vision, deep expertise, and a senior team of highly experienced professionals with a proven track record of creating value,” said Bomma Sivaprasad Reddy, outgoing director at Pravesha.

A pure-play pharma-focused packaging company, Pravesha, founded in 1999, has four manufacturing facilities across the country, with over 1,950 employees.