JM invests Rs. 60 cr in Canpac Trends

New Delhi: JM Financial Private Equity on Friday said it has invested Rs 60 crore in a Gujarat-based folding carton and packaging solutions company, Canpac Trends to fund the company's expansion plans.

This marks the closing of the seventh investment by JM Financial India Fund II, a category II Alternative Investment Fund (AIF) registered with markets regulator Securities and Exchange Board of India (Sebi). Proceeds from the investment will support augmentation of the existing capacities of Canpac Trends, JM Financial Private Equity said in a statement.

"We believe that the packaging sector is poised to continue its growth trajectory. Increased consumption of packaged goods, growth in organized retail and e-commerce and increasing premiumization will drive growth for organized packaging players and Canpac is well positioned to capture this growth spectrum," Darius Pandole, Managing Director and CEO, PE & Equity AIFs, JM Financial said.

Advisors on the deal included Steer Advisors, Economic Laws Practice (legal advisor to JM Financial India Fund II) and Anoma Legal (legal advisor to Canpac).