Elopak

What Elopak does

Elopak is a Norwegian public limited company (ASA) founded in 1957 and listed on the Oslo Stock Exchange under the ticker ELO. The company designs and manufactures paper-based packaging solutions—primarily gable-top and aseptic cartons—along with proprietary filling equipment for liquid food and household care products. Its flagship Pure-Pak Sense carton platform serves fresh dairy, yoghurts, plant-based beverages, and hybrid dairy-plant protein products, with shelf life extension up to 60 days enabled by HEPA filtration through an exclusive Shikoku filling machine partnership. The D-PAK product line extends the company's fiber-based carton technology into household care applications, targeting plastic replacement in laundry detergent and cleaning products through collaborations with Dow and Orkla Home and Personal Care. Underlying technology includes Natural Brown Board sustainable materials and aseptic filling capability that produces 83g CO2 equivalent per litre versus 156g for PET plastic bottles.

Elopak operates a B2B enterprise sales model selling directly to food and beverage manufacturers across more than 40 countries, with over 3,000 employees globally and revenue generated through packaging material sales, filling equipment hardware, and service/maintenance contracts. Named enterprise customers include Farm Dairy (Netherlands), CLUN (Spain), Sainsbury's (UK), smol, Omo, Paperdent, Orkla Home and Personal Care, and Clean Cult. In 2025, Elopak crossed EUR 1.2 billion in full-year revenue for the first time, reporting 15% revenue growth and a 14.6% EBITDA margin in Q4 2025, with the Americas segment delivering 28% constant currency growth.

The company is executing a 'Repackaging tomorrow' strategy unveiled in March 2025, targeting approximately EUR 2 billion in revenue by 2030 with 4-6% annual organic revenue growth and 15-17% adjusted EBITDA margin targets. Geographic expansion is concentrated in the Americas (with $130M invested in a Little Rock, Arkansas facility opened in April 2025 with a third $30M production line added in late 2025), MENA, and India, while a June 2026 multi-year strategic IT partnership with Tata Consultancy Services (TCS) will deploy the Cognix AI-powered platform to modernize global IT operations. Elopak maintains a 2x leverage ratio and has proposed a EUR 0.102 per share dividend representing 59% of net profit for 2025.

Name

Elopak

Legal name

Elopak ASA

Website

https://elopak.com

Company type

Public

Founded year

1957

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Elopak is a Norwegian public packaging company supplying paper-based cartons (Pure-Pak Sense, D-PAK) and proprietary filling equipment to global food, beverage, and household care manufacturers, generating EUR 1.2 billion in 2025 revenue across 40+ countries.

Ownership category

akta.pro rank

Product category

Paper-Based Packaging Solutions

NAICS

Folding Paperboard Box Manufacturing (322212), Corrugated and Solid Fiber Box Manufacturing (322211), Packaging Machinery Manufacturing (333993)

SIC

Paperboard Containers & Boxes (2650), Papers & Allied Products (2600)

akta.pro primary industry

Liquid Cartons & Aseptic Packaging (Gable-Top, Tetra-Style) (IMALACAG)

akta.pro secondary industries

Folding Cartons & Paperboard Packaging Converting (IMAMAHAB), Folding Carton & Paperboard Packaging Printing (IMALAKAH), Cartoning & Case Packing Systems (IMAHAOAB), Beverage Packaging (Bottles, Cans, Cartons, Kegs) (IMALAHAD)

Keywords

• Paper-based packaging
• Gable-top cartons
• Aseptic packaging
• Filling equipment
• Liquid food packaging

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Paper-based Packaging Sales: Sale of paper-based cartons and packaging solutions to food and beverage manufacturers, including Pure-Pak Sense and D-PAK product lines
2. Filling Equipment and Machinery: Sale and installation of filling machines including Shikoku filling equipment for production facilities
3. Service and Maintenance: Support services for filling equipment and packaging operations

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Elopak manufactures and sells paper-based packaging cartons (notably Pure-Pak Sense gable-top cartons and D-PAK fibre-based cartons) used by liquid food and household-care brand owners, and supplies, installs and services aseptic filling equipment (including Shikoku machines) for dairy, plant-based beverages, juice and household product manufacturers. The company earns revenue from carton sales, filling-equipment sales and installation, and related professional services such as maintenance and spare parts.

Product overview

Elopak is a global supplier of paper-based packaging solutions operating in over 40 countries. The company offers a portfolio of carton products centered on the Pure-Pak Sense platform for food and beverage applications and D-PAK™ for household care, along with associated filling equipment. The portfolio is complemented by the 'Repackaging tomorrow' strategy launched in September 2024, which positions plastic replacement as a core growth pillar.

Differentiator

Problem solved

Functional benefit

Brands

• Pure-Pak Sense: Aseptic carton packaging used for dairy, plant-based products, and hybrid varieties
• D-PAK

Products and services

• Pure-Pak Sense

Quantifiable outcome

• 83g CO2 equivalent per litre vs 156g for PET plastic bottles
• +2 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Tata Consultancy Services (TCS)coreImplementation/ SI/ Consulting Partner · 17 June 2026Multi-year strategic IT partnership where TCS serves as Elopak's strategic IT partner, leading global AI-led transformation of IT operations. TCS deploys its Cognix AI-powered service delivery platform to modernize IT service management, enterprise applications, and create a process-centric operating model across Elopak's global business. Partnership aims to improve operational efficiency, agility, and digital experiences while supporting Elopak's broader strategy of market expansion and reducing plastic dependence.
• Orkla Home and Personal CaremajorStrategic or Co-development Partner · 17 April 2026Collaboration to roll out D-PAK cartons incorporating recycled and renewable polymers for household care products. D-PAK represents a sustainable packaging solution targeting plastic replacement in the household care segment.
• DowmajorStrategic or Co-development Partner · 17 April 2026Strategic collaboration with Dow to develop D-PAK cartons incorporating recycled and renewable polymers for sustainable household care packaging solutions.
• Clean CultminorChannel Partner/ Reseller/ Distributor · 17 April 2026Paper-based cleaning products brand available at Target, Costco and Whole Foods, representing Elopak's reach into retail consumer market.
• Stora EnsomajorStrategic or Co-development Partner · 4 April 2026Joint discussion on packaging innovations addressing food waste, including shelf-life extension through advanced filling machines, fiber-based solutions, and strategic lightweighting. Both companies highlighted sustainable packaging approaches.
• ShikokucoreTechnology or Integration · 27 January 2026Filling machine technology partner supplying filling equipment installed at customer facilities including Farm Dairy's Lelystad site for production of dairy, plant-based, and hybrid products.
• Farm DairycoreStrategic or Co-development Partner · 20 January 2026Long-standing partnership celebrating installation of two new Shikoku filling machines at Farm Dairy's site in Lelystad, The Netherlands. New filling lines enable production of fresh dairy, yoghurts, plant-based products, and hybrid varieties using Elopak's Pure-Pak Sense cartons. In 2025, Farm Dairy launched hybrid dairy-plant protein products in 750ml cartons aimed at reducing greenhouse gas emissions.
• Sainsbury'smajorChannel Partner/ Reseller/ Distributor · 28 November 2025Retail partner for D-PAK fibre-based cartons for household care applications including laundry detergent, part of Elopak's plastic replacement strategy.
• smolmajorChannel Partner/ Reseller/ Distributor · 1 January 2021Brand partner using D-PAK fibre-based cartons for household care applications since relaunch in 2021.
• OmomajorChannel Partner/ Reseller/ Distributor · 1 January 2021Brand partner using D-PAK fibre-based cartons for laundry detergent products since relaunch in 2021.
• PaperdentminorChannel Partner/ Reseller/ Distributor · 1 January 2021Brand partner using D-PAK fibre-based cartons for household care applications since relaunch in 2021.

Scale indicators16 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Sonoco Products: Global packaging manufacturer with paperboard, rigid plastics, and consumer packaging lines. Comparable as a public packaging peer serving FMCG customers, though Elopak is more specialized in fiber-based liquid packaging.
• Mondi: European paper and packaging group with significant corrugated and paperboard capacity. Comparable upstream and downstream exposure to the same paperboard substrate economics that drive Elopak's input costs.
• Sealed Air: Global packaging incumbent with food and protective packaging lines. Comparable as a broad food-packaging player serving similar FMCG customers, though Elopak is more specialized in fiber-based liquid cartons.
• Stora Enso: Nordic paperboard and biomaterials producer that supplies substrate into packaging. Already an Elopak innovation partner on fiber-based solutions and shelf-life extension; comparable as both an upstream supplier and a packaging-adjacent incumbent.
• Graphic Packaging: US paperboard packaging producer focused on folding cartons for food and beverage. Comparable in fiber-based folding cartons and substrate economics, though focused on shelf-ready cartons rather than liquid-fill aseptic formats.
• Smurfit Westrock: Largest global paper-based packaging company after the Smurfit Kappa/WestRock merger. Comparable in corrugated and consumer paperboard packaging for FMCG, though scale and breadth far exceed Elopak's specialist focus.
• Huhtamäki: Finnish food and consumer packaging group with fiber-based and flexible packaging. Overlaps with Elopak in food-service and FMCG fiber packaging, including liquid cartons and household care substrates.

Emerging players

• Pactiv Evergreen: North American food and beverage packaging producer with paper-based and fiber product lines. Comparable as a packaging peer serving food and beverage customers in the Americas — directly relevant to Elopak's US growth thesis via Little Rock.

Direct peers

• Tetra Pak: The global market leader in aseptic carton packaging for liquid food (Pure-Pak's primary category). Directly comparable to Elopak across gable-top cartons, filling equipment, and dairy/beverage customers worldwide.
• SIG Group: Swiss-listed aseptic carton and bag-in-box packaging supplier competing head-to-head with Elopak in liquid food and beverage cartons. Closest direct public peer given overlapping product portfolio and end markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Pure_Pak
• LinkedInlinkedin.com/company/elopak

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elopak