Siegwerk has reached a deal to acquire Indian company Hi-Tech Inks, a producer of flexographic and gravure printing inks.
Financial specifics of the deal remain undisclosed.
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The merged entity is poised to become the largest player in India’s flexible packaging sector, accounting for a market share of more than 20%.
The acquisition will combine Siegwerk’s existing business with Hi-Tech Inks’ portfolio, which includes solvent- and water-based inks, metallic and special-effect inks, varnishes, and overprint varnishes (OPVs).
The integration will also see an expansion of production capabilities with two manufacturing sites in Rajasthan and Gujarat.
Hi-Tech Inks managing director Karan Mahajan said: “Siegwerk’s commitment to quality, sustainability, and customer focus aligns perfectly with the values that we have always stood for.
“Joining the Siegwerk family represents a significant milestone for Hi-Tech Inks. By combining our strengths, we are creating new opportunities to grow, innovate, and deliver even greater value to customers across India’s flexible packaging industry.”
The combined business will employ around 1,700 people across India.
The move is expected to improve operational capacity and supply chain resilience, noted Siegwerk.
The company called the deal its largest acquisition since it bought SICPA’s packaging inks division in 2005.
The transaction is anticipated to be finalised in the coming weeks, contingent on standard closing conditions.
Siegwerk Asia president Ashish Pradhan commented: “Hi-Tech Inks has built an impressive legacy of quality, agility, and customer focus, and we are delighted to welcome them into the Siegwerk family.
“This acquisition will strengthen our position in India’s flexible packaging market and will expand our ability to serve customers with greater scale, capability, and innovation. Together, we will be well-placed to shape the next phase of growth for the industry.”
Last month, Siegwerk expanded its collaboration with US-based food packaging manufacturer The Revere Group to improve production processes and support sustainability initiatives.
The Revere Group has adopted Siegwerk’s low-migration SICURA Nutriflex ORBIS DC inks.
