Indorama Ventures to Merge Indian Packaging Business with Blackstone-Backed EPL in $2 Billion Deal
Bangkok-based Indorama Ventures, led by billionaire Aloke Lohia, will merge its Indian packaging unit Indovida India with EPL, a Blackstone-backed plastics manufacturer, in a $2 billion transaction, creating a company targeting $1 billion in annual revenue.
Key Points
- Deal valued at approximately $2 billion, merging Indovida India with Blackstone-backed EPL
- Indorama acquired 24.9% stake in EPL for 19 billion rupees ($219 million) last year
- EPL has market cap of $1.2 billion, manufactures plastic laminates and tubes for pharma and FMCG
- Merged entity expected to generate $1 billion in annual revenue, focus on emerging markets
Full Details
Indorama Ventures, controlled by petrochemicals billionaire Aloke Lohia, has agreed to merge its Indian packaging subsidiary Indovida India with EPL, a plastics-laminate and tube maker backed by U.S. private equity firm Blackstone. The deal is valued at approximately $2 billion and comes a year after Indorama acquired a 24.9% stake in EPL for 19 billion rupees ($219 million). India-listed EPL, with a market cap of $1.2 billion, manufactures plastic laminates and tubes for pharmaceutical and fast-moving consumer goods companies. The merged entity will combine EPL's flexible packaging expertise with Indovida's PET (plastic bottle) packaging business. According to Aloke Lohia, this combination is the logical next step to extend their foundation across formats and markets. The new company is expected to generate about $1 billion in annual revenue and focus on growth in emerging markets.
Why It Matters
This merger creates one of India's largest packaging companies, combining PET bottles with flexible packaging capabilities. The deal signals consolidation in India's packaging industry as companies seek scale to serve multinational clients and expand into emerging markets.
Get stories like this delivered daily
AI-curated news, personalized to your interests. Zero noise.
Start 7-Day Free Trial →More in Global News
One Month Into Iran War: Global Economy Faces Major Disruptions
One month after the US and Israeli war on Iran began, the global economy is experiencing the largest supply disruption in oil market history, with cascading effects on inflation, air travel, food prices, and even semiconductor chip production.
AI Targeting Systems in Iran Conflict Raise 'Cold War' Concerns
Reports confirm Palantir's AI targeting systems used in Ukraine are now being integrated into Iranian drone operations, sparking concerns about an emerging AI arms race and ethical questions about autonomous warfare.
G7 Policymakers Hold Crisis Talks as Iran-Russia War Roils Global Economy
Top western G7 policymakers convened emergency discussions to address the economic turmoil caused by the ongoing Iran-Russia war, as the conflict continues to strain global supply chains and markets.
WTO E-Commerce Duties Moratorium Expires as Global Trade Talks Stall
The global moratorium on customs duties for digital downloads and streaming has expired after WTO ministers in Yaoundé, Cameroon failed to reach an extension agreement, with talks now moving to Geneva.