Novolex, a portfolio company of Wind Point Partners, has acquired custom polyethylene bags and films company Wisconsin Film & Bag (WF&B) for an undisclosed amount.

With around 175 employees, WF&B operates a converting plant and a plastics recycling plant near Shawano, Wisconsin.

Besides polyethylene bags and films, WF&B also provides sustainable and recycled materials.

WF&B's products include linear low-density polyethylene, low-density polyethylene, metallocene, clarity, high density, barefoot, FDA, ECO-V, ECO-P and ECO-BLK films, as well as flat and gusseted bags and centerfold bags.

The acquisition is Novolex's fourth acquisition since Wind Point Partners acquired Novolex in 2012.

Novolex acquired Packaging Dynamics and Duro Bag in 2014 and a portion of Clondalkin's North American flexible packaging division in 2013.

With the addition of WF&B, Novolex is now a $2bn revenue company with over 5,200 employees and 37 manufacturing locations in North America, including two recycling facilities.

Commenting on the purchase, Novolex chairman and CEO Stan Bikulege said: "This is important to us because it will further enhance our high quality packaging choices for customers while advancing our position as the industry leader in sustainability.

"It's a great fit for Novolex™ and we will look forward to integrating the Shawano Team with our successful Novolex Custom Film & Bag brand.

"Our focus is to continue to invest in our business and supply our customers with world class paper and plastic packaging products."

In June this year, plans to put up Novolex for sale were announced.

 

packagingmaterials.packaging-business-review.com

Report Abuse