Packages Limited
Packages Limited is a Pakistani packaging and investment holding company headquartered in Lahore.
Last updated August 26, 2026
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Overview
Packages Limited, commonly known as Packages Group, is a Pakistani industrial and investment holding company with roots in paper conversion and consumer packaging. Established in 1956, it began as a joint venture between the Ali family of Pakistan and the Swedish company Akerlund & Rausing. The venture was created to develop domestic packaging capability and reduce Pakistan's dependence on imported packaging materials, including materials used by the Ali family's razor-blade businesses. Syed Babar Ali played the central role in proposing and developing the partnership. The company initially converted paper and paperboard into packaging for consumer industries. Swedish partners supplied technical expertise, managerial support and European production machinery, while Pakistani employees were progressively trained to replace the original expatriate specialists. Packages expanded its production base during the 1960s and 1970s, developing capabilities in printed cartons, wrappers, labels, transport containers, corrugated boxes and related paper-based products. It also operated a paper mill and produced office stationery, although stationery remained a relatively minor part of the business. Packages became a publicly traded company in 1965. Over subsequent decades, its business broadened through capacity expansion, joint ventures and investments in adjacent industrial sectors. Partnerships with Tetra Pak International, Mitsubishi Corporation, Coates Lorilleux, Printcare and Stora Enso connected the group to liquid-food packaging board, flexible films, printing inks, Sri Lankan packaging production and paper and packaging manufacturing. These relationships helped Packages build a diversified industrial platform rather than remain solely a local converter of imported materials. A major expansion began with the Bulleh Shah Paper Mills project in Kasur, launched in 2005 and brought into commercial operation in 2007. The project substantially increased the group's paper and paperboard capacity. Packages later reorganized its relationship with Tetra Pak Pakistan, selling its stake to Tetra Laval in 2009. It also expanded into real estate through Packages Mall in Lahore, which opened in 2017, and into investment and financial-services activities through businesses associated with IGI Holdings. A decisive structural change occurred between 2019 and 2020. After approval by the company's shareholders and the Securities and Exchange Commission of Pakistan, manufacturing activities covering folding cartons, flexible packaging, consumer products and mechanical fabrication were transferred to the newly created wholly owned Packages Convertors Limited. Packages Limited consequently became more focused on investment holding and the management of group interests, while manufacturing operations were housed in specialized subsidiaries. In the 2020s, the group continued diversifying. It established StarchPack Limited to produce corn-based starch and derivative products, acquired Mitsubishi Corporation's interest in Tri-Pack Films in 2022, and participated in a consortium that acquired a majority stake in Sanofi-Aventis Pakistan Limited in 2023. That pharmaceutical company was subsequently renamed Hoechst Pakistan Limited. Packages therefore combines a historical packaging identity with a broader portfolio spanning paper, films, inks, tissue and corrugated products, real estate, power, food-related materials, pharmaceuticals and financial services.
History
Packages Limited was founded in 1956 in Pakistan as a partnership between the Ali family and Akerlund & Rausing of Sweden. The founding objective was to establish local paper-conversion and packaging capacity for consumer industries and reduce reliance on imported packaging materials. Syed Babar Ali was instrumental in proposing the partnership after visiting Sweden. Pakistan Tobacco Company supported the proposed collaboration, and government authorization was obtained after an extended approval process. The original arrangement combined Pakistani capital and market knowledge with Swedish technical assistance, management support and machinery. The Swedish partner initially held a minority equity position and supplied specialists during the early years. Packages trained local staff, and the expatriate specialists were eventually replaced by Pakistani employees. Production expanded rapidly during the 1960s, with output increasing through additional shifts and improved plant utilization. Although Pakistan Tobacco Company represented most of the company's early business, its share declined as Packages won work from a wider range of consumer and industrial customers. Packages became publicly traded in 1965 and raised capital from the public. The International Finance Corporation also acquired an equity interest. By the 1970s, the company had developed a paper mill and a broad packaging operation producing offset- and flexo-printed cartons, wrappers, labels, transport containers and corrugated boxes. It also manufactured products such as notebooks, file covers, duplicating paper and stationery, though those lines were less important than industrial packaging. The Lahore plant was expanded in the early 1980s. Paperboard, Tetra-related paper conversion and tissue capacity were increased with support from development and commercial finance institutions. In 1982, Packages and Tetra Pak established Tetra Pak Pakistan Limited to produce paperboard for liquid-food packaging. Further diversification followed in 1993 when Packages and Mitsubishi Corporation created Tri-Pack Films for BOPP film production. In 1994, a joint venture with Coates Lorilleux created a Pakistani printing-inks business, later known as DIC Pakistan Limited. In 1996, Packages partnered with Printcare of Sri Lanka, leading to Packages Lanka, which began production in 1998. The group undertook a major paper-industry expansion through Bulleh Shah Paper Mills in Kasur. The greenfield project started in 2005 and began commercial operations in 2007. Developed in phases, it significantly increased the group's paper and paperboard capacity. Packages later sold its Tetra Pak Pakistan interest to Tetra Laval in 2009. In 2012, it entered a joint venture with Stora Enso through Bulleh Shah Packaging; Stora Enso returned its minority stake to Packages in 2017, leaving the subsidiary wholly owned by Packages. Packages also broadened beyond manufacturing. Packages Mall opened in Lahore in 2017 through Packages Real Estate, giving the group a substantial commercial-property operation. In 2019, the board and shareholders approved an internal restructuring. Regulatory approval followed in 2020, when the group's manufacturing activities—including folding cartons, flexible packaging, consumer products and mechanical fabrication—were transferred to Packages Convertors Limited, a newly formed wholly owned subsidiary. Packages Limited consequently took on a more explicit investment-holding role. Recent activity has emphasized portfolio development. StarchPack Limited was incorporated in 2021 to manufacture corn-based starch products and derivatives, with commercial operations beginning in 2024. In 2022, Packages acquired Mitsubishi Corporation's interest in Tri-Pack Films, bringing the films company under group control. In 2023, an investor consortium led by Packages completed the acquisition of a majority interest in Sanofi-Aventis Pakistan Limited. The pharmaceutical company was renamed Hoechst Pakistan Limited later that year. The resulting group includes packaging, paper, films, inks, tissue, corrugated products, starch, power, real estate, pharmaceuticals and financial-services interests, with Packages Limited serving as the listed holding-company center.
- 2023
Pharmaceutical investment completed
[1]A Packages-led consortium completes the acquisition of a majority stake in Sanofi-Aventis Pakistan, later renamed Hoechst Pakistan.
- 2021
StarchPack is incorporated
[1]The group creates a subsidiary focused on corn-based starch products and derivatives.
- 2020
Manufacturing is transferred to Packages Convertors
[1]Packages completes a restructuring that separates manufacturing from the listed holding company.
- 2017
Packages Mall opens
[1]The group opens its Lahore shopping mall through its real-estate operations.
- 2007
Bulleh Shah Paper Mills begins commercial operations
[1]The Kasur paper and paperboard project enters commercial production after development began in 2005.
- 1993
Tri-Pack Films is formed
[1]Packages and Mitsubishi Corporation create a BOPP films venture.
- 1982
Tetra Pak Pakistan joint venture
[1]Packages and Tetra Pak establish a business for liquid-food packaging board.
- 1965
Public listing and new capital
[1]Packages becomes publicly traded and raises capital from public investors; the IFC also takes an equity stake.
- 1956
Packages Limited is established
[1]The Ali family and Akerlund & Rausing establish Packages as a Pakistani-Swedish packaging venture.
Products and positioning
A Pakistani packaging-origin group positioned around integrated manufacturing, industrial partnerships and diversified investments. Its contemporary identity is broader than packaging alone because the listed parent now functions primarily as an investment holding company with interests in manufacturing, real estate, power, pharmaceuticals, food-related materials and financial services.
Packaging
Folding cartons
Printed folding cartons for consumer and industrial goods are among the group's core packaging capabilities. The business developed from paper and paperboard conversion and has historically served consumer-product manufacturers requiring branded, printed secondary packaging.
Packaging
Flexible packaging
Flexible packaging includes printed structures made from paper, films and related substrates. These materials support packaged-food, consumer-product and industrial applications and are produced within the group's converted-packaging businesses.
Paper manufacturing
Paper and paperboard
Packages has operated paper and paperboard manufacturing facilities, including the Bulleh Shah project in Kasur. These materials supply the group's own conversion activities and serve broader packaging applications.
Flexible packaging materials · 1993
BOPP films
Tri-Pack Films manufactures biaxially oriented polypropylene films used in flexible packaging and related converting applications. The company became a Packages subsidiary after Packages acquired Mitsubishi Corporation's interest.
Packaging inputs · 1994
Printing inks
The group has a printing-inks business established through its former Coates Lorilleux joint venture and now associated with DIC Pakistan Limited. The business supplies inks used in commercial and packaging printing.
Food and industrial ingredients · 2021
Starch products
StarchPack was established to manufacture corn-based starch products and derivatives, extending the group's portfolio into food-related and industrial ingredient applications.
Brand decisions
2023
Acquire majority stake in Sanofi-Aventis PakistanM&ABackground
Packages pursued diversification beyond packaging through a consortium investment in Pakistan's pharmaceutical sector.
Action taken
A consortium led by Packages completed the acquisition of Sanofi Foreign Participations B.V.'s majority stake in Sanofi-Aventis Pakistan Limited.
Aftermath
The acquired company was renamed Hoechst Pakistan Limited in September 2023.
2022
Acquire Mitsubishi Corporation's Tri-Pack Films stakeM&ABackground
Packages had operated Tri-Pack Films with Mitsubishi Corporation since their 1993 joint venture.
Action taken
Packages acquired Mitsubishi Corporation's shareholding, increasing Tri-Pack Films to a group subsidiary.
Aftermath
The transaction strengthened Packages' control of its flexible-film business.
2020
Separate manufacturing from the listed holding companyStrategyBackground
Packages had developed a broad manufacturing portfolio alongside investments and other group businesses.
Action taken
The company transferred folding-carton, flexible-packaging, consumer-product and mechanical-fabrication operations to wholly owned Packages Convertors Limited.
Aftermath
Packages Limited became more focused on investment holding while manufacturing activities were managed through the new subsidiary.
Sources1 sources
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