Blackstone today announced that private equity funds managed by Blackstone have entered into a definitive agreement with Indorama Netherlands, B.V. (INBV), a group entity of Indorama Ventures Public Company Limited (IVL) to sell a minority stake in EPL Limited (EPL), a leading global specialty packaging company and the largest global manufacturer of laminated tubes.

Pursuant to the definitive agreements, INBV will acquire a minority stake of ~24.9% of EPL from Blackstone at a purchase price of Rs. 240 per share. The sale is expected to be completed in the coming months, subject to customary closing conditions and approvals.

EPL, founded in 1982, is a global leader in laminated tubes. With 21 facilities across 11 countries and a workforce of more than 3,500 employees, EPL produces more than eight billion tubes annually. EPL's clientele includes marquee global brands in the oral care, beauty, cosmetics and pharmaceutical industries.

EPL's last twelve months revenue from operations as of December 31, 2024 was Rs. 4,137 crore and EBITDA was Rs. 806 crore, registering ~17% year on year growth.

Amit Dixit, Head of Asia Private Equity, Blackstone, said: “We are pleased to continue to support EPL in its growth journey. Over 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. EPL is now a global leader in sustainable packaging, supplying to some of leading brands across sectors. We are excited to welcome IVL as an investor in EPL.”

Aloke Lohia, Founder and Group CEO of Indorama Ventures, said: “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.”

Anand Kripalu, Managing Director and Chief Executive Officer of EPL, said: “We are grateful for Blackstone’s support over the years and look forward to their continuing contribution in our journey. This partnership has resulted in meaningful growth by increasing presence in emerging markets, focusing on sustainable tubes, and increasing our market share in the fast-growing beauty, cosmetics, and pharmaceutical industries. We look forward to having IVL, with global presence and expertise, as an investor in EPL.”