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. Under the agreement, EPL is valued at roughly $1. 2 billion, which translates to about 339 Indian rupees per share. Indovida’s valuation is around $700 million, so the total transaction reaches the $2 billion mark.Leadership will stay largely in place: EPL’s chief executive, Hemant Bakshi, will become the CEO of the combined entity, while Indovida’s own head, Sunil Marwah, will keep running its business unit. The deal still needs approval from regulators, shareholders and the courts before it can be finalized. Once those hurdles are cleared, the merger is expected to close within about a year. The transaction highlights a trend of consolidation in India’s packaging and plastics sector, as companies look to scale up and diversify their product lines.