ITC's Sanjiv Puri says CPP acquisition marks 'defining milestone' for paper business

Kolkata, ITC Chairman and Managing Director Sanjiv Puri said the acquisition of Century Pulp and Paper (CPP) marks a "defining milestone" for the company's paper business, with the Rs 3,498-crore deal making ITC India's largest integrated paperboards and paper business.

In a social media post, Puri welcomed the CPP workforce to ITC, saying the integration brings together two enterprises with a shared commitment to excellence, innovation, competitiveness and sustainable value creation.

"This marks the coming together of two enterprises united by a shared commitment to excellence, innovation, competitiveness and sustainable value creation," Puri said.


ITC, in a regulatory filing on Saturday, said it had concluded the acquisition of Century Pulp and Paper from Aditya Birla Real Estate Ltd after obtaining all necessary approvals and fulfilling the stipulated conditions under the business transfer agreement.

The acquisition increases ITC's installed paperboards and paper capacity by over 50 per cent to around 1.5 million metric tonnes, strengthening its Paperboards and Specialty Papers Business.

Puri said the acquisition significantly strengthens the business by enhancing scale, reinforcing ITC's presence in northern India and expanding access to key raw materials and customers.

He said India's strong growth trajectory is expected to drive increasing demand for high-quality paperboards, sustainable packaging solutions and alternatives to plastic, adding that the combined business is well positioned to capitalise on these opportunities through innovation, operational excellence and sustainability.

Welcoming CPP employees into the ITC family, Puri said their experience and expertise would play an important role in driving the next phase of growth, competitiveness and value creation.

The acquisition, first announced in March 2025, includes the Century Pulp and Paper undertaking along with its assets, liabilities, contracts and employees as a going concern.

Century Pulp and Paper has an installed capacity of 4.8 lakh metric tonnes per annum. ITC said the acquisition will strengthen its market position through greater scale, enhanced customer reach, improved proximity to key raw material sources, increased operational resilience through multi-site manufacturing and multiple opportunities for long-term value creation.

India is the world's fifth-largest producer of paper and paperboards, with annual demand growing at 6-7 per cent, driven by sectors such as FMCG, food service, pharmaceuticals, e-commerce, education and sustainable packaging solutions, according to the company.

India is the fifth-largest producer of paper and paperboards in the world, with an estimated production of around 23 million tonne per annum and an annual industry turnover of over Rs. 80,000 crore.

ITC stock was up 1.94 per cent at close to Rs 286.45 at NSE.