The corporate has “signed a definitive settlement for acquisition of a portfolio of logos, comprising of in style and properly established nationwide manufacturers,” Vikas Multicorp stated in a regulatory submitting.
With out divulging particulars of the deal, the corporate stated it has acquired logos of meals packaging and tissue paper manufacturers — Homefoil, Chapati Wrap, Cleanwrap and Mistique.
Vikas Multicorp stated with the acquisition of the model portfolio, the corporate is initiating the method to establish and purchase an current patent for manufacturing this stuff.
“Within the interim, alternate preparations are being made to provide these merchandise by way of third social gathering contract manufacturing,” the corporate added.
Vikas Multicorp stated the demand of aluminium foil and tissue paper merchandise in India has been rising at a quick tempo and is predicted to proceed to develop in view of current per capita consumption is sort of low.
“With the altering life-style, urbanisation and growing requirement of meals packaging can be the important thing elements for sustaining the rising demand. Put up COVID-19 sure modifications are anticipated in client behaviour which additionally impetus the tempo additional,” the corporate added.