Conglomerate ITC has completed the acquisition of Century Pulp and Paper (CPP), becoming India's largest integrated paperboards and paper company. According to a regulatory filing on Saturday, the company acquired the pulp and paper business of Aditya Birla Real Estate Limited, operated under the name Century Pulp and Paper, along with its assets, liabilities, contracts and employees, as a going concern on a slump sale basis in accordance with the Business Transfer Agreement dated March 31, 2025. The acquisition represents ITC's largest deal and formally integrates the business into the company's paperboards and specialty papers portfolio.
The ₹3,500-crore acquisition represents ITC's largest deal and formally integrates the business into the company's paperboards and specialty papers portfolio. As reported by Business Standard, the acquisition significantly strengthens ITC's paperboards and specialty papers business by enhancing scale, reinforcing presence in northern India, and expanding access to key raw materials and customers. Total capacity increases by over 50% to approximately 1.5 million metric tonnes. The acquisition was first announced in March 2025 as part of ITC's strategy to accelerate the next phase of growth in its paperboards and specialty papers business.
Commenting on the completion, ITC Chairman and Managing Director Sanjiv Puri described it as a 'defining milestone' for the company's paperboards and specialty papers business. According to Puri's LinkedIn post, the acquisition marks the coming together of two enterprises united by shared commitment to excellence, innovation, competitiveness and sustainable value creation. He highlighted that as India continues on strong growth trajectory, demand for high-quality paperboards, sustainable packaging solutions and alternatives to plastic is expected to rise significantly. "Together, we are well positioned to seize these opportunities through innovation, operational excellence, and a shared commitment to sustainability," Puri stated. Welcoming CPP employees to 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.
Paperboards was one of ITC's early diversification bets, dating back to 1979, when it set up ITC Bhadrachalam Paperboards Ltd. As reported by Business Standard, in March 2002, Bhadrachalam Paperboards merged with ITC and became a division of the company. Later that year, the Tribeni Tissues division was also merged to form the paperboards and specialty papers division. In 2004, ITC further consolidated its position as the largest paperboard company by acquiring the paperboard manufacturing facility of BILT Industrial Packaging Co (BIPCO) near Coimbatore, Tamil Nadu. The CPP acquisition is expected to strengthen the company's nationwide presence and position it to capitalise on rising demand for paperboards, sustainable packaging solutions and alternatives to plastic.
The CPP acquisition is expected to strengthen the company's nationwide presence and position it to capitalise on rising demand for paperboards, sustainable packaging solutions and alternatives to plastic. According to Puri, CPP employees' experience and expertise would play an important role in driving the next phase of growth, competitiveness and value creation. The acquisition was first announced in March 2025 as part of ITC's strategy to accelerate the next phase of growth in its paperboards and specialty papers business. With this addition, ITC further consolidates its position as India's largest integrated paperboards and paper business, with the company well positioned to seize long-term opportunities in the sector through innovation and operational excellence.
