The acquisition of Flexo Converters USA is expected to add production capacity to Novolex Duro Bag operations
Novolex has agreed to acquire Flexo Converters USA. (Credit: Gerd Altmann from Pixabay)
Novolex, a portfolio company of The Carlyle Group, has agreed to acquire the business of Flexo Converters USA and certain of its affiliates for an undisclosed sum.
The deal is expected to be completed within the next two months.
Based in Meriden of Connecticut, Flexo is engaged in the manufacturing of stock, custom and recycled paper bags and sacks.
Flexo COO and operations vice president Anik Patel said: “Creating quality products and meeting customer demands has been part of the Flexo story since our family started in the industry 40 years ago.
“We are excited to join the Novolex family with its reputation of leadership and innovation in our industry, as well as its history of welcoming independent businesses and their employees to the integrated organisation.”
Established in 1994, Flexo manages manufacturing facilities in Meriden, as well as in Monroe of Georgia.
Novolex will market Flexo products under its Duro Bag brand.
Novolex stated that the addition of Flexo products to the company’s portfolio will allow Duro to support customer demand via Flexo’s production capacity.
Under the deal, the eligible full-time employees of Flexo can join Novolex.
Novolex chairman and CEO Stan Bikulege said: “Flexo is an exciting addition to our company, and we welcome the skilled and committed team to the Novolex family.
“Flexo’s strong reputation for high-quality products, on-time delivery and value-added services will support us in pursuing future growth opportunities for all of Novolex.”
In December last year, Novolex acquired US-based bag manufacturing company B&H Bag, which manufactures paper bags and other products.
Novolex develops and produces a range of packaging products for multiple industries in the foodservice, delivery and carryout, food processor and industrial markets.
With over 10,000 employee families, Novolex has 55 manufacturing facilities in North America and Europe.