EPL and Indovida have merged to become one of the largest packaging companies in emerging markets. With revenues of USD 1 billion, the merged company is set to expand globally.
The merger of EPL, a leading tube producer (formerly Essel Propack Limited), and Indovida, the packaging division of Indorama, aims to create a broader portfolio and extended global reach, it is stated. The transaction has been approved by the boards of directors of both companies and is now awaiting regulatory and shareholder approval.
Hemant Bakshi, who will continue to serve as Group CEO, emphasises that the merger is transforming EPL into a multi-format platform specifically designed to serve both global and regional customers in high-growth emerging markets.
Synergies and growth potential
A key advantage of the merger lies in the expected synergies arising from the complementary geographical presence and product offerings. These synergies are intended to increase efficiency in procurement and the supply chain and strengthen the sustainability initiatives of both companies. Aloke Lohia, CEO of Indorama Ventures, emphasises that the merger supports Indorama Ventures' strategic goal of deepening its presence in India and strengthening the packaging sector as a growth market.
The merged company will be led by an experienced management team with extensive knowledge of the markets in Southeast Asia, Africa and Latin America, it is said.
The completion of the transaction is expected within the next twelve months, subject to the usual regulatory approvals.
Source: Indorama
