{"id":5518,"date":"2025-02-24T06:28:56","date_gmt":"2025-02-24T11:28:56","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=5518"},"modified":"2025-02-24T06:28:56","modified_gmt":"2025-02-24T11:28:56","slug":"blackstone-to-divest-24-9-stake-in-indian-packaging-company-epl-for-220m","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=5518","title":{"rendered":"Blackstone to divest 24.9% stake in Indian packaging company EPL for $220m"},"content":{"rendered":"


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EPL serves the FMCG and pharmaceutical industries. Credit: John Hanson Pye via Shutterstock.<\/figcaption><\/figure>\n<\/p><\/div>\n

Blackstone has agreed to sell a 24.9% stake in EPL, an Indian speciality packaging manufacturer, to Indorama Netherlands, for approximately Rs19.07bn ($220m).<\/p>\n

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This move comes as part of the global asset manager\u2019s strategy to offload its shares in the company.<\/p>\n

The transaction will see Indorama Netherlands, a subsidiary of Thailand-based Indorama Ventures (IVL), purchasing the stake at Rs240 per share.<\/p>\n

This marks a significant divestment by Blackstone, which first acquired a controlling interest in EPL in 2019.<\/p>\n

At that time, Blackstone purchased over a 75% stake in the company from Ashok Goel Trust for up to $460m.<\/p>\n

In a subsequent transaction in September 2020, Blackstone sold a 23% stake for $252m. Following the latest sale, Blackstone\u2019s holding in EPL will be reduced to approximately 26.5%.<\/p>\n

EPL, established in 1982, is a key player in the packaging sector, serving the fast-moving consumer goods (FMCG) and pharmaceutical industries.<\/p>\n

With 21 manufacturing facilities, the company boasts a global clientele that includes prominent brands in oral care, beauty, cosmetics, and pharmaceuticals.<\/p>\n

Upon completion of the deal, Indorama Ventures will gain the right to appoint one nominee director to the board of EPL, further solidifying its influence within the company.<\/p>\n

Blackstone Asia Private Equity head Amit Dixit said: \u201cOver the last few years, in conjunction with the management team led by CEO Anand Kripalu, we have helped build the business into one of the fastest-growing packaging companies worldwide.<\/p>\n

\u201cEPL is now a global leader in sustainable packaging, supplying to some of the leading brands across sectors. We are excited to welcome IVL as an investor in EPL.\u201d<\/p>\n

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