Jindal Poly Films Acquires Dutch Firm

Jindal Poly Films has acquired Apeldoorn Flexible Packaging (AFP), a Netherlands-based company, for EUR 82.3 million (Rs 607 crore) in an all-cash deal. AFP is a leading player in load security films. The company will close the acquisition by September 30, 2017.

This acquisition will expand Jindal's access to new product segment and strengthen its relationship with brand owners in the food, beverage and FMCG segments.

On the financial front, Apeldoorn has posted a revenue of EUR 111 million (Rs 818 crore) in CY16. The Jindal Poly Films’ top line stood at Rs 7,293.93 crore in FY17. The company’s revenue will be increased 11.21% through the acquisition itself.

The share price of Jindal Poly Films increased 3.21% at Rs 418.2 on BSE at 0924 hours.

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About Suhani Varma

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