Blackstone to acquire a 51% stake in Essel Propack from Ashok Goel Trust for $460m.

Blackstone Group agreed to acquire a 51% stake in Essel Propack, a leading global specialty packaging company and the largest global manufacturer of laminated tubes, from Ashok Goel Trust for $460m. Ashok Goel Trust and its affiliates currently hold about 57% of Essel Propack. "EPL has decade-long relationships with marquee global customers and a track record of product innovation. Leveraging the ongoing industry shift to laminated tubes and EPL's leadership position in oral care, our plan is to accelerate growth in fast-growing end categories such beauty, cosmetics and pharmaceuticals. EPL is a leader in emerging markets and well-positioned to benefit from consumption growth across categories. This investment follows Blackstone's long-standing belief and track record in the B2B2C sector." Amit Dixit, Blackstone Senior Managing Director and Head of Private Equity in India.