Hilex Poly diversifies with Clondalkin flexible packaging acquisition

Published: April 2, 2013 12:41 pm ET
Updated: April 2, 2013 1:03 pm ET

Related to this story

Topics Packaging, Mergers & Acquisitions, Film & Sheet, Extrusion, Grocery bags

HARTSVILLE, S.C. — Plastic bag maker and recycler Hilex Poly Co. LLC has purchased part of the North American Flexible Packaging division of Clondalkin Group Holdings Ltd.

Hilex now owns Fortune Plastics Inc., Accutech Plastics Inc. and Direct Plastics Ltd. The acquisition expands both the company's product line and its recycling technologies, according to an April 2 news release.

Terms of the deal were not disclosed.

Fortune, based in Old Saybrook, Conn., makes flexible packaging including can liners, bags, foodservice and industrial products. The company has four production sites in the U.S. -- Old Saybrook, Lebanon, Tenn., Orlando, Fla., and Glendale, Ariz. – and makes bags from post-industrial and post-consumer resin, and compostable PLA.

Accutech manufactures mono and coextruded polyethylene film products for industrial applications, as well custom barrier films and modified atmosphere bags. The Coldwater, Ohio,-based company also has a plant in Elyria, Ohio.

Direct, a flexible packaging convertor in Orangeville, Ontario, specializes in pre-press graphic design, flexographic printing, laminating, slitting and bag converting.

Hilex, based in Hartsville, S.C., is North America's largest plastic bag manufacturer and makes a variety of bags and films for grocery, retail and food service markets. The company also runs the largest plastic bag-recycling operation in the U.S. at its North Vernon, Ind., plant.

Hilex was no. 19 in Plastics News' most recent ranking of North American film and sheet manufacturers with estimated sales of $470 million in 2011. Prior to this acquisition, Hilex had nine plants and approximately 1,000 employees in North America.

In late 2012, Hilex was acquired by private equity firm Wind Point Partners of Chicago.

Clondalkin, based in Amsterdam, the Netherlands, owns several packaging companies in North American and Europe, and claims annual sales of more than $1.15 billion.


Comments

Hilex Poly diversifies with Clondalkin flexible packaging acquisition

Published: April 2, 2013 12:41 pm ET
Updated: April 2, 2013 1:03 pm ET

Post Your Comments


Back to story


More stories

Image

Shepherd named Thermoformer of the Year

March 4, 2015 11:32 am ET

Barry Shepherd, of Shepherd Thermoforming and Packaging Inc., is the newest Thermoformer of the Year.    More

Image

Accella buys IPS Polymer Systems

March 3, 2015 5:26 pm ET

Accella Performance Materials Inc. is acquiring IPS Polymer Systems Inc. to expand the firm's growing polyurethane operation.    More

Image

Clear Lam settles Doritos lawsuit

March 3, 2015 4:06 pm ET

Clear Lam Packaging Inc. has settled a months-old lawsuit against Frito-Lay Inc. alleging “breach of contract, false advertising, and...    More

Image

Coveris sees 'common culture' form after mergers, acquisitions

March 3, 2015 11:37 am ET

Coveris Holdings Corp. is a mega-rollup in packaging, a major international player, said Robert Larson, president of Coveris' Food and Consumer North ...    More

Image

Study: LLDPE to grow steadily

March 3, 2015 11:23 am ET

Research group Ceresana says linear low density polyethylene (LLDPE) is expected to grow steadily through 2021.    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events