Siegwerk to acquire Hi-Tech Inks, creating India’s largest flexible packaging inks player

INDIA – Global printing inks and coatings specialist Siegwerk has signed a definitive agreement to acquire Hi-Tech Inks, a move set to position the combined business as the largest player in India’s flexible packaging inks market with more than 20% share.

The acquisition reflects Siegwerk’s long-term strategic focus on India, one of its fastest-growing markets globally.

By integrating Hi-Tech Inks’ capabilities, the company aims to strengthen its production footprint, expand its product portfolio, and enhance supply reliability for packaging converters and brand owners.

Hi-Tech Inks brings a broad portfolio spanning solvent- and water-based inks, metallic and special-effect inks, and varnishes, including overprint varnishes (OPVs).

The deal will also expand Siegwerk’s manufacturing presence through facilities in Bhiwadi, Rajasthan, and Vapi, Gujarat, improving capacity and operational resilience.

Following the integration, the combined business will employ approximately 1,700 people across India, positioning it to deliver improved responsiveness and technical support to customers in the country’s rapidly evolving packaging sector.

Ashish Pradhan, President Asia at Siegwerk, said the acquisition builds on complementary strengths and shared values, enabling the company to scale innovation and service capabilities.

Hi-Tech Inks Managing Director Karan Mahajan added that the partnership opens new opportunities for growth and value creation across India’s flexible packaging industry.

The transaction, expected to close in the coming weeks subject to customary conditions, marks Siegwerk’s largest acquisition since its purchase of SICPA’s packaging inks business in 2005.

The deal comes amid a wave of consolidation and investment in the global printing inks and flexible packaging sector, driven by rising demand, sustainability pressures, and the need for scale.

In India, multinational and domestic players have been expanding aggressively to capture growth in food, beverage, and personal care packaging.

Companies are increasingly investing in water-based and low-migration inks to meet tightening food safety and environmental regulations.

Globally, ink manufacturers are also strengthening their portfolios through acquisitions and partnerships.

Flint Group has recently expanded its flexible packaging solutions with new sustainable ink technologies, while Hubergroup continues to invest in production capacity and innovation centers across Asia.

At the same time, packaging demand growth is pushing converters to seek reliable, high-performance ink suppliers capable of supporting shorter runs, higher-quality graphics, and recyclable packaging formats.

For Siegwerk, the acquisition of Hi-Tech Inks not only consolidates its leadership in India but also aligns with a broader industry shift toward integrated, scalable solutions that combine innovation, sustainability, and supply chain resilience in one of the world’s most dynamic packaging markets.

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