New Delhi, Jan. 30 -- JK Paper Ltd, a paper and packaging solutions company, has acquired Quadragen Vethealth Pvt. Ltd (QVPL) for Rs.460 crore in an all-cash deal to diversify into the specialty animal health, nutrition, and feed additives business.

The transaction reflects an upfront acquisition of a 65% stake in QVPL, with the remaining expected to be bought in four years, JK Paper said in an exchange filing on Wednesday.

"This is a strategic acquisition in a promising and rapidly developing industry segment and provides a new opportunity for the company to grow," Harsh Pati Singhania, chairman and managing director at JK Paper, said in the filing.

JK Paper shares were down 6.5% at Rs.356.65 apiece in late morning trade on BSE, while...