ITC’s Pulp & Paper Acquisition Analyzed

ITC has successfully secured approval from the Competition Commission of India for its purchase of Aditya Birla Real Estate’s pulp and paper business, known as ‘Century Pulp & Paper’. This approval, issued on December 16, 2025, is a significant step forward in ITC’s strategic expansion. The transaction was completed through a “going concern” slump sale, meaning ITC is taking over the business as it currently operates.

Key Points

• ITC gained approval from India’s Competition Commission.
• Acquired ‘Century Pulp & Paper’ business from Aditya Birla.
• Transaction structured as a ‘going concern’ slump sale.
• This strengthens ITC’s position in the paper market.
• Confirmation of strategic growth within a key sector.
• Potential for increased market share and operational gains.

Strategic Implications

This acquisition provides ITC with a substantial foothold in the Indian pulp and paper industry. It strengthens ITC’s diversified portfolio, capitalizing on growing demand within India and potentially opening new avenues for innovation and market reach. Furthermore, the ‘going concern’ structure demonstrates ITC’s commitment to maintaining the operational integrity of the acquired business.

The Competition Commission’s approval is crucial, ensuring a smooth integration. It signals a favorable regulatory environment for ITC’s investment strategy. This acquisition aligns with ITC’s broader ambitions for growth and diversification, focusing on sectors with strong demand and potential for value creation.

Looking ahead, ITC will likely focus on optimizing the operations of ‘Century Pulp & Paper’, leveraging its expertise to enhance efficiency and explore new product offerings. Monitoring market trends and adapting to evolving customer needs will be essential for long-term success in this dynamic industry.

This acquisition represents a carefully planned strategic move for ITC’s future growth.