EPL set to acquire Creative Stylo Packs

Packaging major EPL (formerly known as Essel Propack) is set to acquire Mumbai-based Creative Stylo Packs in a part-cash and part-stock transaction. The deal is expected to strengthen EPL's presence in the beauty and cosmetics market segment.

13 Nov 2020 | By WhatPackaging? Team

Vats: This acquisition will enrich our presence in the personal care segment

The Mumbai-based firm specialises in the manufacturing of corrugated boxes, laminated tubes, plastic co-ex tubes and caps, catering to the personal care, cosmetic, pharmaceuticals and FMCG markets in India.

Sudhanshu Vats, managing director and CEO, EPL, said, “We are committed to lead the pack; simultaneously driving market revenue as well as capital-efficient growth and ensuring consistent earnings. And strengthening our offerings in beauty and cosmetics is the key to this vision. We believe that this acquisition will enrich our portfolio, enabling us to advance our ambition in personal care. It will also strengthen our presence in AMESA (Africa, Middle East and South Asia), a key growth region for us.”

The transaction entails the purchase of 72.5% stake in Creative Stylo Packs through cash transaction. While the remaining 27.5% stake will be purchased through the issuance of EPL shares to the founders of Creative Stylo Pack, post the merger. According to the packaging giant, this acquisition will accelerate its revenue and EBITDA growth.

As per the agreement, post the acquisition Bhavik and Darshan Shah, the founders of Creative Stylo Packs, will join the EPL management team. “I am personally delighted to welcome Bhavik and Darshan to the EPL fold. Their entrepreneurial spirit and youthful energy will help us move forward with greater purpose and agility,” said Vats.

Bhavik Shah of Creative Stylo Packs said, “Darshan and I are extremely proud of what we have created thus far through innovation and customer-centricity, and now, we have an opportunity to continue and accelerate the growth path through the EPL. We are really excited and look forward to working with the EPL team in furthering their cause of being a leading speciality packaging company in the world.”

The acquisition is also set to boost EPL’s plastic tube capabilities, which, combined with the company’s foothold in laminated tubes, will further strengthen the company’s growth.