One of India’s largest rigid plastics packaging companies has acquired National Plastics (NAPLA), a producer of spraying and dispensing solutions. The acquisition is Manjushree Technopack’s (MTL) first since Advent International bought a majority stake in the company last year.

Through this deal MTL will expand its portfolio by adding adjacent categories like dispensers and sprayers to its existing product range of containers and preforms. This merger will also help MTL acquire new clients in this segment across various regions in India.

The acquisition is expected to contribute 4-5 per cent of the overall revenue for MTL over the next 5 years. In 2016, MTL acquired Delhi-based rigid packaging firm Varahi Polymers.

According to MTL’s estimates, the value of the dispenser market in India is expected to double from $50 million in FY19 to $100m by 2023.

Announcing the acquisition, Sanjay Kapote, chief executive of MTL, said: “We see significant opportunities in the spraying and dispenser market. NAPLA’s market leadership in the dispenser and spray systems will help MTL expand its product offerings to existing customers as well as enter new markets in South Asia. We will invest in R&D and new business development to bolster NAPLA’s growth.”

Based in Punjab, NAPLA was founded in 1988 by Manish Saggar. The firm  manufactures lotion pumps, liquid dispensers, trigger sprayers, fine mist sprayers, cosmetic/serum pumps, perfume spray packs for major brands in India and South Asia.

Saggar added:“The acquisition by MTL will help NAPLA expand its capabilities, product range and client base. With the bigger MTL team and bandwidth, and increased research & development activities, new, innovative products can be brought in and enhanced customer satisfaction can be provided.