Investcorp-Backed Canpac Acquires Shriram Veritech Solutions

Canpac Trends, one of India’s leading packaging solution providers, has announced the successful acquisition of Shriram Veritech Solutions, a company specialising in holographic security labels and anticounterfeiting solutions. The deal value was not disclosed.

Supported by Bahrain-based alternative investment firm Investcorp and JM Financial Private Equity, Canpac has pursued an aggressive roll-up strategy to consolidate India’s fragmented packaging market. This transaction marks its fourth acquisition since inception and its second within the past year.

Founded in 2011–12 by Nilesh Todi, Canpac operates across four locations and offers a broad portfolio that includes folding cartons, paper bags, corrugated boxes, and flexible packaging.

Expanding into anticounterfeiting

Veritech has been a trusted player for over 30 years, providing physical and digital solutions to combat counterfeiting, secure supply chains, and optimise packaging and labelling. Its Greater Noida facility will be central to Canpac’s push into North India, expanding the company’s footprint to eight plants nationwide – double the number it operated in 2023.