EPL Joins Forces With Indovida in a $2 Billion Packaging Deal

The Indian packaging firm EPL is set to merge with Indovida, a plastics company backed by Indorama, in a deal worth around $2 billion. The new group will bring together EPL’s packaging operations and Indovida’s plastic products, creating a stronger presence in the market.

Deal Structure

• EPL valuation: ~$1.2 billion (≈ 339 Indian rupees per share)
• Indovida valuation: ~$700 million
• Total transaction value: ~$2 billion

Leadership Continuity

• Hemant Bakshi, EPL’s CEO, will become the CEO of the combined entity.
• Sunil Marwah, Indovida’s head, will continue running its business unit.

Regulatory and Shareholder Approval

The deal still requires approval from:

• Regulators
• Shareholders
• Courts

Once cleared, the merger is expected to close within about a year.

Industry Context

This transaction highlights a broader trend of consolidation in India’s packaging and plastics sector, as companies seek to scale up and diversify their product lines.