New Delhi, May 15 -- Parle Global Technologies Pvt Ltd, a manufacturer of process equipment for various industries, has bought out its US-based partner from an equal joint venture that makes equipment for the pharmaceutical industry.
Parle Global and its directors Mahendra Rajmal Mehta and Rajmal Lavji Mehta bought the 50% stake in Parle Tableting Technologies Pvt Ltd from Linden St. Holdings, Inc, according to a statement. Terms of the transaction were not disclosed.
Law firm Lakshmikumaran & Sridharan Attorneys advised Linden St. Holdings on its exit from the joint venture.
Thane, Maharashtra-based Parle Global was formed 50 years ago and now has operations spanning Mumbai and Ahmedabad. The company operates seven manufacturing facilities to serve industries such as pharmaceuticals, food and beverage, personal care, and cosmetics. It makes tooling, packaging machinery, and tablet presses, among other equipment.
According to the company website, it established four joint ventures with Japanese and Korean companies between 2013 and 2018. It formed Parle Kovai Machinery Pvt Ltd in 2013 with Kovai Machineries, set up Parle Leepack Machinery Pvt Ltd in 2014 with Korea's Leepack Co Ltd, formed Parle Freund Machinery Pvt Ltd with Japan's Freund Corp and created another JV with Pacifab Technologies LLC in 2018.
Parle Global was founded in 1974 by Rajmal Lavji Mehta. The company is now led by Mahendra Rajmal Mehta. In 2025, it formed a joint venture with Linden to set up Parle Tableting Technologies, which is engaged in manufacturing and supplying tooling, tool care products, and tablet compression machines for both pharmaceutical and non-pharmaceutical industries.
Published by HT Digital Content Services with permission from VC Circle.