Leon Farahnik, chairman of Los Angeles holding company HPC Industries, has done more than his share of starting, buying and selling plastics packaging companies. Most recently, the HPC-owned Hilex Poly Co. LLC (www.hilexpoly.com) in Hartsville, S.C., acquired competitor Vanguard Plastics Inc., creating a plastic bag maker with more than $650 million in annual sales. And HPC has stated it is on the lookout for other suitable companies, especially those active in high-molecular-weight, high-density polyethylene film.
After beginning work as a youth in his father's plastics business in Iran, the U.S.-born Farahnik has been very active in the film extrusion sector. He returned to the United States in 1979 and then founded, sold and eventually reacquired Hilex Poly, and also started HDPE trash bag maker Rhino-X Industries, before selling it to Carlisle Plastics Inc. in 1992. Farahnik served as CEO of Rhino-X until December that same year.
In April 1993 he incorporated RXI Holdings and served as its chairman, president and CEO. He then acquired Texberry Container, Patricks Plastics, Continental Plastics, Vanguard Plastics and RXI Plastics. In October 2000 he sold RXI Holdings to Silgan Holdings Inc. and a few weeks later formed HPC Industries for the sole purpose of buying more packaging companies. Since then, HPC has bought PET thermoformer PWP Industries and Sonoco Products Co.´s high-density film products group, in addition to Vanguard.
Hilex Poly is part owned by DCHI Investment Holdings, an affiliate of Atlanta-based Dewberry Cesinger Hodgson.