J. Sagar Associates (JSA) advised and represented Pearl Polymers Limited (PPL) and its promoters in the execution of business transfer agreement for the sale of PPL’s B2B Business to Manjushree Technopack Limited (MTL) by way of slump sale. This transaction is subject to customary closing conditions and regulatory approvals.
PPL is a listed company in India and a leading manufacturer of rigid packaging and houseware products since 1984. PPL offers a wide range of jars and bottles for usage in the kitchen, home and offices. Through the sale of B2B Business to MTL, PPL aims to further grow its well-known PearlPET brand to a new level and expects to launch many new product lines in the near future.
MTL is India’s largest rigid plastics packaging company with pan India presence and is backed by Advent International. The proposed acquisition will help MTL to further consolidate their leadership position in the rigid packaging segment.
Partner - Manvinder Singh, Senior Associate - Anant Mishra and Associates - Aman Parnami and Vishakha Singh.