Predict your next investment

INDUSTRIAL | Manufacturing / Rubber & Plastic Product Manufacturing
axiompropack.com

See what CB Insights has to offer

Stage

Acquired | Acquired

About Axiom Propack

Axiom Propack manufactures safety closures that are tamper evident, non-refillable and leak-proof, mainly catering to the alcoholic beverage industry.

Axiom Propack Headquarter Location

Karnataka,

India

Latest Axiom Propack News

India: Luxembourg’s Guala Closures to fully acquire Axiom Propack

Jul 8, 2017

India: Luxembourg’s Guala Closures to fully acquire Axiom Propack Photo: Mint By Staff Writer @ LiveMint July 8, 2017 Luxembourg-based Guala Closures Group , one of the world leaders in the production of packaging material, has signed a definitive agreement to acquire Karnataka-based Axiom Propack Pvt. Ltd for an undisclosed sum, the company said in a statement. The deal under which Guala Closures will take full control of Axiom Propack, is slated to close within three months, subject to necessary approvals. The acquisition is expected to help the multinational firm fortify its position in the Indian market, the statement said. Mumbai-based investment banking firm Singhi Advisors and Walter Advisors acted as advisors to the deal for Axiom Propack, while KPMG and TTA Advocates represented Guala Closures. Belur-based Axiom Propack mainly caters to the Indian-made foreign liquor (IMFL) market. “With this acquisition we aim to reinforce our position in the area and to increase our capacity in order to properly answer to the growing demand of protection against products counterfeiting,” said Marco Giovannini, chairman and chief executive of Guala Closures Group. Guala Closures is a global leader in the production of packaging for spirits, wine, oil and vinegar, water and beverages and pharmaceuticals, with over 14 billion pieces sold in more than 100 countries, according to the statement. Also Read:

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.