Siegwerk acquires Hi-Tech Inks to expand in India’s flexible packaging market

Siegwerk is set to obtain Hi-Tech Inks, an Indian-based flexographic and gravure printing inks company. The move aims to strengthen Siegwerk’s position in the country’s flexible packaging market. 

Hi-Tech will add its range of solvent- and water-based inks, metallic and special-effect inks, varnishes, and overprint varnishes to Siegwerk’s portfolio. 

Ashish Pradhan, president at Siegwerk Asia, says: “Hi-Tech Inks has built a legacy of quality, agility, and customer focus, and we welcome them into the Siegwerk family.”

“This acquisition will strengthen our position in India’s flexible packaging market and will expand our ability to serve customers with greater scale, capability, and innovation. Together, we will be well-placed to shape the next phase of growth for the industry.”

The acquisition also aims to enhance Siegwerk’s manufacturing footprint in India at its dual sites in Bhiwadi, Rajasthan, and Vapi, Gujarat.

In total, the company will employ approximately 1,700 people across India, boosting Siegwerk’s capacity to serve converters and brand owners with “more robust capability and responsiveness.” 

Completion of the transaction is expected soon, subject to closing conditions

Expanding in the Indian market 

The transaction is Siegwerk’s largest acquisition since its purchase of SICPA’s packaging inks business in 2005. The printing inks and coatings company explains that the move will make the combined business the largest player in the country with over 20% share. 

Karan Mahajan, managing director at Hi-Tech Inks, says: “Siegwerk’s commitment to quality, sustainability, and customer focus aligns with the values that we have always stood for.” 

“Joining the Siegwerk family represents a significant milestone for Hi-Tech Inks. By combining our strengths, we are creating new opportunities to grow, innovate, and deliver even greater value to customers across India’s flexible packaging industry.”

Siegwerk highlights that the acquisition underscores its long-term commitment to India and the broader Asia region, “one of the company’s most important strategic growth markets.” 

Last year, Siegwerk, Borouge, and TPN Food Packaging launched a fully recyclable, monomaterial barrier stand-up pouch.

Gilles Le Moigne, head of circular economy coatings at Siegwerk, told Packaging Insights: “Brands and converters are no longer just looking for inks or surface treatments, they’re demanding solutions that enable recyclability, compostability, and reuse.”