Essel Propack Limited, a global leader in laminated plastic tubes catering to the fast moving consumer goods (FMCG) and pharmaceutical space, will acquire a 100 per cent stake in Essel Deutschland Germany (EDG).
Following this transaction, EDG will be a 100 per cent subsidiary of Essel Propack, which was a joint venture (JV) partner with 24.9 per cent share in the company, whose enterprise value stands at $32 million. The acquisition will help Essel Propack unlock synergies such as enhanced cross selling opportunity in the German markets, sourcing flexibility and better capacity utilisation at all of its plants in Europe. Essel Propack can now deploy its proven capability to offer high-decoration laminated tube solutions for the premium non-oral care brands across Europe, including Germany. It will also have the benefit of a long-term supply agreement, which EDG recently signed with a local oral care company.