Bangkok-based Indorama Ventures, led by billionaire Aloke Lohia, has deepened its investment in India’s packaging industry with a $219 million acquisition of a 24.9% stake in EPL from Blackstone.
Indorama Ventures’ subsidiary, Indorama Netherlands, will purchase EPL shares at 240 rupees each, slightly above the last closing price of 237.56 rupees. The deal, expected to be finalized in the coming months, will be financed through the company’s internally generated cash flow.
“EPL is known for its innovative, high-quality packaging products across the globe and resonates with Indorama’s philosophy of investing in attractive businesses with great future potential, globally as well as in India,” said Aloke Lohia, founder and Group CEO of Indorama Ventures, in a statement.
Strengthening Indorama’s Packaging Portfolio
EPL, formerly known as Essel Propack, is a major player in the global packaging sector, producing plastic laminates and tubes for pharmaceutical and fast-moving consumer goods (FMCG) industries. With 21 facilities in 11 countries, EPL manufactures over 8 billion tubes annually and employs more than 3,500 people.
For Indorama Ventures, the investment in EPL strengthens its foothold in the Indian packaging market, aligning with the company’s broader strategy of expanding its sustainable and innovative packaging solutions worldwide.
A Billionaire’s Packaging Empire
Aloke Lohia, with an estimated net worth of $1.4 billion, heads Indorama Ventures, the world’s largest producer of polyethylene terephthalate (PET) by volume. His older brother, Sri Prakash Lohia, chairs both Indorama Ventures and Indorama Corp., a leading manufacturer of fertilizers and polyolefins—key components in plastic production.
With this latest acquisition, Indorama Ventures continues to solidify its position in the global packaging and materials sector, leveraging EPL’s expertise and market reach to drive further growth in India and beyond.
