Siegwerk acquires Hi-Tech Inks

Siegwerk, a leading provider of printing inks and coatings, has announced the acquisition of Hi-Tech Inks, an Indian producer specializing in flexographic and gravure printing inks. The details of the financial transaction remain undisclosed. This strategic move is poised to solidify Siegwerk's position in India’s burgeoning flexible packaging market, potentially giving it a market share exceeding 20%, which would make it the largest player in the country.

The acquisition reflects Siegwerk’s strategic focus on India and the broader Asia market, which are pivotal for its growth. Hi-Tech Inks' expertise in solvent- and water-based inks, as well as its offerings in metallic and special-effect inks, varnishes, and over print varnishes, will complement Siegwerk’s existing capabilities. This deal not only enhances Siegwerk’s product portfolio but also its manufacturing footprint in India with facilities in Bhiwadi, Rajasthan, and Vapi, Gujarat, thereby increasing production capacity and operational resilience.

Ashish Pradhan, President of Siegwerk Asia, underscored the importance of this acquisition, stating that it will bolster their ability to serve customers with increased scale, capability, and innovation. Karan Mahajan, Managing Director of Hi-Tech Inks, highlighted that the merger aligns with shared values of quality and customer service, and opens new avenues for growth and innovation in India's flexible packaging industry.

The acquisition positions Siegwerk to better compete in a market characterized by rapid growth and evolving demands. It enhances its ability to meet the needs of packaging converters and brand owners by offering a more comprehensive and reliable supply chain. This move also marks Siegwerk’s largest acquisition since its purchase of SICPA’s packaging inks business in 2005, underscoring its commitment to growth and innovation in the sector.

The transaction is expected to close in the coming weeks, pending customary closing conditions. This acquisition not only marks a significant step in Siegwerk’s growth trajectory but also reaffirms its long-term dedication to advancing the packaging industry through superior technology and sustainable practices.