Jaipur-based Miracle Group on 3 April 2024 announced the acquisition of two companies. It has acquired Sattik Packaging, a carton producer based in Iswaripur, just north of Kolkata in West Bengal. It has also acquired Shivalik Container, located in Khairi just 50 kilometers east of Ambala in Himachal Pradesh. Miracle has not disclosed the value of either of the two deals. Nor has it specified the incremental increase in capacity that the acquisition will bring to the group.
Sattik Packaging is known for its expertise in manufacturing corrugated boxes, mono cartons, and rigid packaging solutions, while Shivalik Container specializes in corrugated packaging. Miracle says that the acquisitions will widen the group’s geographic reach and add some diversity to its range of carton types.
These strategic acquisitions mark a significant milestone for Miracle Group, enhancing its market presence and service offerings in the packaging industry. The inclusion of Sattik Packaging and Shivalik Container will enable Miracle to offer a more diversified product range, further solidifying its position as a leading packaging solutions provider in India which already has plants in several states including Bihar, Rajasthan, Gujarat, and Punjab. It has five packaging plants in Jaipur itself.
According to its website, Sattik Packaging has a production capacity of 1500 metric tons monthly for corrugated boxes and 2.5 lakh rigid boxes monthly. The leadership teams of Sattik Packaging and Shivalik Container will continue to play integral roles in the expanded Miracle packaging organization. Miracle Group is a leading provider of packaging solutions, manufacturing a wide range of products including cartons, flexible packaging, labels, plastic cans, and corrugated boxes.
“The well-established market presence of Sattik Packaging and Shivalik Container in West Bengal and Himachal Pradesh, respectively, coupled with their industry expertise, makes them ideal additions to our growth strategy. This acquisition not only enhances our product portfolio but also serves as a stepping stone towards our commitment to delivering complete packaging solutions across India. We are delighted to welcome them into the Miracle family,” said Hemendra Agarwal, the managing director of the Miracle Group.
“Miracle’s research and development capabilities, technical expertise, aggression, and commitment to customers will play a pivotal role in advancing the packaging space in this region and bringing our products to a wider audience,” said Sanjay Saha from Sattik Packaging and Girish Sardhana from Shivalik Container in a joint statement.
