Next Wave Partners portfolio company Petainer has announced a joint venture in India. Nigel Pritchard, Petainer CEO, announced:
“Petainer is pleased to announce the completion of our joint venture in India with partner Innopac. Petainer Innopac Packaging Pvt Ltd, headquartered in New Delhi, has been formed to further increase Petainer’s global footprint and is focussed on introducing high performance and gamechanging PET/plastic packaging solutions to brand owners in India.
Innopac, established by Saket and Atit Bhatia (the promoting family of a leading metal packaging group in India), is focussed on introducing high performance, sustainable and innovative packaging solutions to the food, beverage, pharmaceutical and non-food sector.
Petainer Innopac Packaging Pvt ltd (Petainer Innopac), will be spearheaded under the leadership of Atit Bhatia who will be the Managing Director. He will be actively supported by the local management team. In addition to the local team, Petainer will support the joint venture with expertise and resources from our global team, including New Product Development, Sales & Marketing, Operations and Technical Service.
Atit Bhatia has vast experience in the food and beverage industry and we are very pleased to have secured his services and congratulate him on his appointment to this strategically important position.
Mr Sanjay Bhatia, with over 35 years of experience in the packaging industry, is appointed as Chairman of the joint venture. Sanjay Bhatia is currently Managing Director of Hindustan Tin Works Ltd, Chairman of REXAM HTW Beverage Can (India) Ltd. and has held various leadership positions in the industry as well as membership organisations linked to the Indian packaging industry, as well as a number of industrial associations.
Petainer & Innopac have agreed to a phased approach; with our joint goals for the region at its core the introduction of proprietary high performance packaging solutions made from specialist materials with integrated barrier technology and a focus on sustainability and the building of commercial advantage; through our Zero Waste economics programme.
Additionally, we are delighted to announce that the Joint Venture has secured its first customer which is a leading water company from India.”
