Asian private equity firm RRJ Capital has reportedly backed Chinese paper packaging business Nature Packaging Group.
RRJ has agreed to invest $50m in the company, said Wall Street Journal, citing a person familiar with the situation.
The firm will hold a substantial minority stake in Nature Packaging Group and its investment will dilute the stake held by the company’s chairman and founder Lin Shiwang, said the source.
Nature provides packaging to clothing, food and beverage and home appliance companies.
The person noted that China’s paper packaging industry is very fragmented and Nature Packaging could expand quickly.
Earlier this month RRJ backed Chinese logistics business Shanghai Yupei Group. RRJ and Singapore’s sovereign wealth fund Temasek invested $250m in the company.
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