EPL and Indovida agree merger to form USD 2bn emerging-markets packaging group
EPL Ltd and Indovida India Pvt Ltd have signed definitive agreements to merge their flexible and rigid PET packaging businesses, creating a platform with about USD 1 billion in combined revenue valued at USD 2 billion. Indorama Ventures, Indovida's backer, will become the largest shareholder with 51.8 per cent, while Blackstone, EPL's backer, will hold 16.6 per cent. The deal has board approval and still needs regulatory and shareholder clearances.
Why this mattersThe combination consolidates flexible and rigid PET packaging under one emerging-markets platform, giving Indorama Ventures a controlling packaging stake alongside its resin business.
- Combined group valued at USD 2 billion, with EPL valued at USD 1.2 billion and Indovida at USD 0.7 billion
- Merged entity expected to generate about USD 1 billion in revenue
- Indorama Ventures will hold 51.8 per cent of the merged company and become a promoter
- Blackstone will hold 16.6 per cent
- Indorama Ventures bought a 24.9 per cent stake in EPL in May 2025
- EPL Managing Director and Global CEO Hemant Bakshi will lead the combined entity, with Indovida CEO Sunil Marwah reporting to him
Sources
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