CCI Approves Indorama Netherlands’ 24.9% Stake Acquisition in EPL Limited

In a significant development in the Indian packaging sector, the Competition Commission of India (CCI) has approved the proposed acquisition of 24.9% equity shareholding in EPL Limited by Indorama Netherlands B.V. This acquisition marks a notable expansion initiative by Indorama Ventures Public Company Limited (IVL), through its indirect subsidiary, Indorama Netherlands B.V., into India's vibrant and growing packaging market.

Details of the Acquisition

The proposed combination involves Indorama Netherlands B.V., a limited liability company based in the Netherlands, acquiring a minority but strategically important shareholding in EPL Limited. The transaction entails the purchase of up to 24.9% of EPL’s equity share capital, a move that falls within the threshold of minority acquisition yet potentially signals deeper collaboration or future scale-ups.

Though financial specifics of the deal have not been disclosed publicly, the approval by the CCI confirms that the acquisition does not raise any competition concerns in India. The CCI’s green signal came after an evaluation of the potential market impact of the transaction under the Competition Act, 2002.

About Indorama Netherlands B.V. and Parent Group IVL

Indorama Netherlands B.V. is an indirect wholly owned subsidiary of Indorama Ventures Public Company Limited, headquartered in Thailand. IVL is a global chemical producer, known for its strong presence in the polyester value chain including PET, fibers, and packaging. With manufacturing operations across Asia, Europe, and the Americas, IVL is actively consolidating its footprint in high-growth markets, and India represents a strategic focus due to its rising demand for advanced packaging solutions.

This acquisition aligns with IVL’s long-term strategy to diversify its business portfolio and deepen its presence in end-user markets such as fast-moving consumer goods (FMCG), personal care, and pharmaceuticals—all of which rely heavily on sophisticated packaging products.

EPL Limited: India’s Leading Packaging Company

EPL Limited, formerly known as Essel Propack Limited, is a global leader in the manufacturing of laminated and extruded plastic tubes. These tubes are extensively used in packaging applications for toothpaste, cosmetics, pharmaceuticals, and industrial products. With a robust presence in over 10 countries and manufacturing facilities strategically located in India and overseas, EPL serves a broad portfolio of global clients.

The company’s expertise in innovative, sustainable, and customized tube packaging has made it a preferred supplier to major multinational companies. It is also investing in eco-friendly packaging technologies, aligning with global shifts toward recyclable and biodegradable materials.

Implications of the Acquisition

The CCI's approval paves the way for Indorama Netherlands B.V. to become a key stakeholder in EPL Limited, potentially fostering collaborative innovation in sustainable packaging solutions and material sciences. The alliance could open opportunities for EPL to leverage IVL’s global network, R&D capabilities, and raw material supply chains, particularly in polyester and PET resins.

From Indorama’s perspective, the acquisition enhances its access to end-user markets and strengthens its downstream integration in the packaging sector. For EPL, the strategic investment may support expansion, R&D, and potential ventures into new product categories or geographies.

Industry analysts believe that the transaction highlights increasing global interest in India's packaging sector, driven by burgeoning consumer demand, urbanization, and sustainability regulations.

As the Indian economy continues to grow, strategic investments such as this underscore the critical role of regulatory bodies like the CCI in enabling fair and competitive markets. The entry of global players like Indorama Ventures into India’s packaging landscape promises innovation, capital infusion, and value creation across the supply chain.