Toppan Printing Co., Ltd (Toppan) has acquired stock and shares from Max Speciality Films Limited (MSF) based in Punjab State, India.

MSF is one of the market leaders of specialty Biaxially Oriented Polypropylene (BOPP) films in India.

The transaction is expected to strengthen Toppan’s offering in the growing packaging market in India and further expand its overseas business.

DC Advisory Japan acted as the buy-side financial advisor for Toppan.