The Competition Commission of India (CCI) has approved the acquisition of Hubergroup, a 258-year-old German company specializing in printing inks and chemicals, by a consortium led by MAVCO Investments and Avenue Capital Group.
The deal, valued at $310 million, marks a significant move into the global print and packaging sector for the investors.
Strategic Entry into Global Print and Packaging Solutions
The consortium, comprising MAVCO Investments (a private vehicle for members of the Murugappa Group family) and funds managed by Avenue Capital Group, is acquiring Hubergroup from the current owner, Cornelius Treuhand Holding.
The acquisition of Hubergroup represents a strategic entry for MAVCO into the global print and packaging industry, as highlighted by M.A.M. Arunachalam, also known as Arun Murugappan.
Overview of Hubergroup’s Operations
Hubergroup operates two key divisions. Its print solutions division manufactures inks, varnishes, and printing auxiliaries used in packaging, commercial printing, and newspaper printing.
Meanwhile, the chemicals division produces specialty chemicals, including resins, laminating adhesives, pigments, and additives, with production facilities in India.
The products cater to diverse industries and complement the consortium’s existing interests.
Key Players in the Acquisition
MAVCO Investments is led by prominent members of the Murugappa family, including M.A.M. Arunachalam, Vellayan Subbiah, and Arun Venkatachalam.
The family brings extensive experience in managing businesses across various sectors in India.
Avenue Capital Group, founded in 1995 by Marc Lasry and Sonia Gardner, is a global investment firm with a focus on special situations.
The firm manages over $12 billion in assets and operates globally, with offices in New York, Europe, Asia, and Abu Dhabi.
As reported by thehindubusinessline.com, both MAVCO Investments and Avenue Capital Group aim to leverage their expertise. With this acquisition, they also seek to expand their presence in the growing print and packaging solutions market.
