Hilex Poly to Acquire Dura Bag

Hilex Poly, Hartsville, S.C., USA, a sustainable packaging company, has agreed to acquire Duro Bag Manufacturing Co., Florence, Ky., a manufacturer and marketer of retail and luxury paper bags for foodservice, grocery, wholesale-distribution, and other industries. Duro Bag is a supplier of point-of-purchase paper bags to key markets throughout the U.S. such as food service, specialty retail, grocery, and mass merchant. The combined company will have more than 3,000 manufacturing jobs in the U.S. and more than 600 in Canada and Mexico.

 

"The acquisition of Duro Bag will enable us to expand our portfolio of 100% 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. "We are pleased and excited to welcome the Duro Bag family into Hilex." Bikulege added that "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."  

 

Hilex is majority owned by Wind Point Partners, a Chicago, Ill.-based private equity investment firm. Alex Washington, a managing director at Wind Point, said that "completing acquisitions was a key value driver we had outlined when we invested in Hilex. The Duro Bag acquisition is a great opportunity to grow our product offerings, providing better value for our customers."

 

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 operates 15 manufacturing locations across the U.S. and Canada plus the largest closed-loop recycling facility in the U.S.