Essel Propack

Last updated

EPL
Company type Public
NSE:  EPL
BSE:  500135
IndustryTube Packaging
Founded1982 in Mumbai
FounderSubhash Chandra
Headquarters Mumbai, Maharashtra, India
Area served
Worldwide
Key people
Anand Kripalu (MD & CEO)
RevenueIncrease2.svg₹2,773 crore (US$330 million) (2019)
Owner The Blackstone Group (52%) [1]
Number of employees
2700+ (2014)
Website www.eplglobal.com

EPL Limited (formerly Essel Propack Limited) is a global tube-packaging company owned by The Blackstone Group headquartered in Mumbai. [2] It is a specialty packaging manufacturer of laminated plastic tubes for the FMCG and Pharma space. [3] [4]

In 2013, Essel Propack employed more than 2,600 people, and operated 24 facilities in 11 countries, [5] selling more than six billion tubes each year and claims to be the world's largest plastic tubes manufacturer. [6] As of 2009, the company had a global market share of 33% in the toothpaste tube packaging industry. [7]

History

The company was formed from the merger of two pre-existing companies, Essel Packaging and Propack AG led by then CEO Cyrus Bagwadia. [8] [9]

In 2002, Essel Propack set up a 60,000 sq.ft, US$15 Million manufacturing plant in Danville, Virginia, to make toothpaste tubes for Procter & Gamble's North American market. [3] [10] [11] In the same year, the company set up its fourth plant in China. [12]

The company was acquired by The Blackstone Group in 2019 during an assets sale of the debt-ridden Essel Group. [2] The company was renamed to EPL Limited in October 2020. [13]

References

  1. ↑ Dhanjal, Swaraj Singh (18 September 2020). "Blackstone sells 23% stake in Essel Propack in block deal worth $252 mn". mint. Retrieved 28 February 2023.
  2. 1 2 "Sudhanshu Vats Appointed CEO And MD at Essel Propack". BW Businessworld . 15 April 2020.
  3. 1 2 "A Tale of the Tubes". Chief Executive.net. Chief Executive Group LLC. 1 October 2003. Archived from the original on 5 December 2014. Retrieved 1 September 2013.
  4. ↑ James Buckley Jr. (2005). The Bathroom Companion: A Collection of Facts about the Most-Used Room in the House . Quirk Books. p.  133. ISBN   978-1-59474-028-2.
  5. ↑ "The Big Squeeze". Business Today. Retrieved 1 September 2013.
  6. ↑ "Essel Propack Boosts Manufacturing Capacity in Egypt, China". NDTV. Retrieved 3 April 2023.
  7. ↑ Simon, Hermann (2009). Hidden Champions of the Twenty-First Century. Bonn, Germany: Springer. p. 9. ISBN   978-0-387-98147-5.
  8. ↑ "Essel Packaging in merger deal with Propack". The Hindu . UNI. 16 November 2000. Archived from the original on 1 September 2014. Retrieved 1 September 2013.
  9. ↑ "Essel Packaging announces merger with Swiss major". The Indian Express. 16 November 2000. Archived from the original on 1 September 2014. Retrieved 1 September 2013.
  10. ↑ "Essel Propack setting up unit in USA, to expand facilities in China, Egypt". Projects Today. 20 April 2002. Retrieved 1 September 2013.
  11. ↑ Deborah Orr (27 October 2003). "Coming to America". Forbes. Retrieved 1 September 2013.
  12. ↑ "EPGL's fourth unit in China". The Hindu. 31 March 2002.
  13. ↑ "Essel Propack To Be Renamed As EPL". BloombergQuint . Press Trust of India. 12 October 2020. Retrieved 28 June 2021.


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