The Competition Commission of India has given the green light for the Murugappa Group-led consortium to acquire Hubergroup, a 258-year-old German company specializing in printing inks and chemicals. The consortium includes MAVCO Investments, a private investment firm associated with the Murugappa family, and funds managed by Avenue Capital Group, a US-based global investment firm. The deal, valued at $310 million, represents the consortium’s strategic entry into the global print and packaging solutions sector, according to M.A.M. Arunachalam (also known as Arun Murugappan). The acquisition will see the consortium take over the current owner, Cornelius Treuhand Holding.
Hubergroup’s Print Solutions Division produces inks, varnishes, and printing auxiliaries for packaging, commercial, and newspaper printing. Its Chemicals Division manufactures specialty chemicals such as resins, laminating adhesives, pigments, and additives at plants in India. With approximately 3,000 employees across 30 countries, Hubergroup reported annual sales of €812 million in 2022.
MAVCO is managed by M.A.M. Arunachalam, Vellayan Subbiah, and Arun Venkatachalam from the Murugappa family, who bring extensive experience in managing businesses across various industries in India. Avenue Capital Group, founded in 1995 by Marc Lasry and Sonia Gardner, specializes in special situations investments across the United States, Europe, and Asia. The firm has more than $12 billion in assets under management and operates with over 180 employees worldwide.
Hubergroup, a global leader in the printing ink and chemical industry, has a legacy of over 250 years in delivering innovative solutions to the printing and packaging sectors. Based in Germany, the company operates in more than 30 countries, offering high-quality inks, coatings, and auxiliary materials tailored to the needs of various industries. Renowned for its focus on sustainability, Hubergroup emphasizes eco-friendly products and processes, including low-VOC and recyclable inks. With a strong commitment to R&D and customer-centricity, the company consistently drives advancements in printing technology while ensuring adherence to environmental and safety standards. Hubergroup’s dedication to quality and innovation has cemented its position as a trusted partner for businesses worldwide.
The Murugappa Group, a 124-year-old conglomerate, commands a revenue of ₹77,881 crore (₹778 billion) and has a significant presence across India and globally. With a diverse portfolio spanning agriculture, engineering, financial services, and more, the Group continues to uphold its legacy of excellence and innovation.
The Group boasts nine listed companies, including Carborundum Universal Limited, CG Power & Industrial Solutions Limited, Cholamandalam Financial Holdings Limited, Cholamandalam Investment & Finance Company Limited, Coromandel International Limited, EID Parry (India) Limited, Shanthi Gears Limited, Tube Investments of India Limited, and Wendt India Limited. Other key companies include Cholamandalam MS General Insurance Company Limited and Parry Agro Industries Limited. Its portfolio of brands, such as Ajax, Hercules, BSA, Montra, Montra Electric, Mach City, Chola, Chola MS, CG Power, Shanthi Gears, CUMI, Gromor, Paramfos, and Parry’s, exemplifies its market leadership across sectors.
The Group’s business interests encompass abrasives, technical ceramics, electro minerals, electric vehicles, auto components, fans, transformers, railway signalling equipment, bicycles, fertilizers, sugar, tea, and more. Operating under the guiding principles of integrity, passion, quality, respect, and responsibility, the Murugappa Group continues to shape industries and create value for its stakeholders.
