The conglomerate ITC has successfully completed the acquisition of Century Pulp and Paper (CPP), becoming the largest integrated producer of paper products and paper in India.
According to regulatory filings published on Saturday, the company announced the completion of the acquisition of the paper and pulp business of Aditya Birla Real Estate Limited, which operated under the name Century Pulp and Paper. The acquisition was made along with assets, liabilities, contracts, and employees as a going concern based on an arm's length sale agreement dated March 31, 2025.
This acquisition, the largest for ITC and valued at 3,500 crore rupees, officially integrates this business into ITC's portfolio of paper and specialty paper.
Management Comments on the Deal Completion
Sanjiv Puri, Chairman and Managing Director of ITC, called the event a 'milestone' for the company's paper and specialty paper division in a LinkedIn post. He noted that the merger of two enterprises, united by a common commitment to excellence, innovation, competitiveness, and sustainable value creation, significantly strengthens ITC's paper and specialty paper business. This is achieved through increased scale, enhanced presence in North India, and expanded access to key raw materials and customers.
Puri added that with this acquisition, ITC further solidifies its position as the largest integrated producer of paper products and paper in India, increasing total production capacity by over 50 percent, to approximately 1.5 million metric tons.
The deal was initially announced in March 2025 as part of ITC's strategy to accelerate the next phase of growth in the paper and specialty paper segment. Puri emphasized the long-term prospects of the sector, forecasting significant demand growth for high-quality paper, eco-friendly packaging solutions, and plastic alternatives as India continues to demonstrate a strong growth trajectory.
He stated that the company is well-prepared to capitalize on these opportunities through innovation, operational excellence, and a shared commitment to sustainability principles. Puri also welcomed the CPP employees, noting that their experience and knowledge will play a vital role in driving the next phase of growth, competitiveness, and value creation.
Paper products were one of ITC's early investments in diversification, beginning in 1979 with the establishment of ITC Bhadrachalam Paperboards Ltd. In March 2002, Bhadrachalam Paperboards merged with ITC and became a division of the company. In the same year, the Tribeni Tissues division also joined the paper segment. In 2004, ITC further strengthened its position by acquiring the BIPCO cardboard manufacturing unit located near Coimbatore, Tamil Nadu.
The CPP acquisition is expected to strengthen the company's nationwide presence and allow it to capitalize on the growing demand for paper products, eco-friendly packaging, and plastic substitutes.
