Paris-based iPackchem Group is expanding into India, buying Mullackal Polymers Pvt. Ltd., a maker of polyethylene and barrier packaging for crop protection and chemical products.
The deal was announced Nov. 9. Terms were not disclosed.
Founded in 1987, iPackchem makes specialized barrier packaging for crop protection and specialty chemicals customers. It currently has facilities in Europe, the United Kingdom, Russia, China, Brazil and South Africa.
Mullackal has three facilities in western India, where it makes high density PE and barrier plastic containers, caps and measuring cups. The company was founded in 1976 by P.K.N. Pillai, according to the release.
"We are extremely excited to partner with Ramesh and Karthik Pillai, who have built a high-quality and innovative business, and we look forward to accelerating Mullackal's growth under iPackchem ownership," CEO Jean-Philippe Morvan said in the release.
"We will continue to aggressively pursue acquisitions in new geographies, including North America, to fully mirror our clients' global footprint," he added.
New York-based SK Capital Partners bought iPackchem earlier this year, part of a flurry of plastics-related deals since 2009.
The Mullackal deal is scheduled to close towards the end of 2021.