Hilex Poly to Acquire Duro Bag Manufacturing Company
Duro Bag is one of the leading providers of point-of-purchase paper bags in the United States.
June 25, 2014 - Hilex Poly on June 17 announced that it entered into an agreement to acquire Duro Bag Manufacturing Company.
Terms of the deal were not disclosed.
"The acquisition of Duro Bag will enable us to expand our portfolio of 100 percent recyclable products to meet customer demands as well as broaden our reach to other market segments," said Stan Bikulege, Chairman and CEO of Hilex Poly.
Duro Bag is one of the leading providers of point-of-purchase paper bags in the United States to markets such as food service, specialty retail, grocery, and mass merchant.
"Hilex continues to focus on developing products that are recyclable, sustainable and environmentally friendly. We look forward to expanding our capabilities and continuing to provide great products and service to a growing base of customers," Bikulege said.
Hilex is majority owned by Wind Point Partners, a Chicago-based private equity investment firm.
The transaction, which is expected to close at the end of the second quarter, is subject to customary closing conditions and regulatory approvals.
Hilex Poly, based in Hartsville, South Carolina, is an industry leading manufacturer of flexible packaging products, ranging from bags for grocery, retail, and food service markets, to can liners and specialty films. The company operates 15 manufacturing locations across the U.S. & Canada plus the largest closed-loop recycling facility in the U.S.
Duro Bag is a manufacturer and marketer of retail and luxury paper bags, for foodservice, grocery, wholesale-distribution and other industries.
SOURCE: Hilex Poly