OSLO, NORWAY: Elopak and GLS Group India have entered into a long-term strategic partnership to deliver sustainable packaging solutions to consumers across India.
Elopak and GLS Group India have today signed a joint venture agreement in which the two companies will each have 50% ownership. The newly formed company, GLS Elopak (headquartered at Gurugram in Haryana, India) will leverage the respective expertise, assets and networks of Elopak and GLS to capitalize on the significant consumer demand in India.
The company is being established to manufacture and process high-quality fresh and aseptic packaging solutions, which are designed to ensure that liquid food is safe and accessible to consumers across the globe. The company will cater to both fresh and aseptic segments with applications such as dairy, plant-based drinks, juice, water and liquor.
Elopak, a leading global supplier of carton packaging and filling equipment, offers sustainable packaging solutions that provide a natural and convenient alternative to plastic bottles. The joint venture aligns with Elopak’s ambitions to expand geographically and meet the rising demand for sustainable packaging solutions, leveraging its strong track record and investment in sustainability-focused innovations. Geographic expansion is one of the five key growth pillars, Elopak has prioritized, executing its sustainability-driven growth strategy and driving the plastic to carton conversion.
With its manufacturing hub close to Delhi at Rewari in Haryana, India, GLS Elopak will be the only producer of fiber-based packaging for liquid food in the Haryana area. It will immediately start to offer Roll-Fed aseptic cartons under the brand “ALPAK” in various sizes, along with end-to-end service support, to customers. Going forward, the company will introduce Pure-Pak® fresh cartons, Pure-Pak® aseptic cartons and complementary solutions.
Elopak’s entry into the Indian market will be an important step in our growth strategy. The JV expect to reach revenues of ~80-100 mEUR by 2027, and we expect positive EBITDA contribution already from FY 2024. The financials of the JV will be fully consolidated in Elopak’s financial statement.
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