Chennai: EPL Limited (formerly known as Essel Propack Limited) has announced that its Board of Directors have approved the acquisition of Creative Stylo Packs Pvt. Ltd. in a part-cash and part-stock transaction.
The transaction entails purchase of 72.5 per cent stake in Creative Stylo Packs Pvt Ltd through cash. The remaining 27.5 per cent stake will be purchased through issuance of EPL shares to the founders of Creative Stylo Pack post the merger.
Bhavik Shah and Darshan Shah, the founders of Creative Stylo Packs, will join the EPL management team post the acquisition.
EPL’s managing director and CEO, Sudhanshu Vats, said: “We believe that our acquisition of Creative will enrich our portfolio, enabling us to advance our ambition in personal care.”