MeadWestvaco Corp. (NYSE: MWV) will purchase Ruby Macons Ltd., which produces packaging materials, for an undisclosed amount.
Richmond, Va.-based MeadWestvaco, which also makes packaging, expects the deal to strengthen its presence in India, where the target is located. MeadWestvaco makes packaging for the beauty, healthcare, food, beverage, tobacco and agricultural industries.
Gujarat, India-based Ruby Macon’s revenue was about $80 million over the last 12 months. The company is owned by the Nathani family.