Novolex is acquiring Shields Bag and Printing Co., a Washington state maker of flexible packaging products.
The deal for the Yakima-based company, expected to close by the end of the year, includes "certain assets and business operations," Novolex said.
Shields' portfolio includes capabilities in blown film extrusion, printing, bag making and converting. End markets include building and construction, food, consumer, banking, security, lawn and garden, chemical, energy and industrial.
Shields was founded in 1935 and entered the flexible packaging sector in the 1960s.
"Becoming part of Novolex will allow the legacy of Shields Bag and Printing and its employees to continue to grow and prosper," CEO Lisa Shields said in a statement. "This is an ideal fit. Novolex leadership is very much aligned with our principles at Shields. They are committed to employee safety and welfare, as well as the communities where they live and work."
Shields, on its website, indicates the company has sales of about $180 million annually.
Novolex, based in Hartsville, S.C., has grown over the years through acquisitions. Shields is its seventh such deal since 2012, the company said.
Other acquisitions include Heritage Bag Co. in May 2016, Wisconsin Film & Bag Inc. in October 2015.
Shields pushes Novolex's annual sales to $2.5 billion and adds 500 employees.
Novolex currently is No. 7 in Plastics News' ranking of film and sheet makers in North America with $1.2 billion in annual film sales.
Terms of the deal were not disclosed.
It was just about a year ago that Novolex, itself, was acquired by private investment firm Carlyle Group from Wind Point Partners and TPG Group. Novolex was formerly known as Hilex Poly, and that name continues as one of several brands within the company.
Along with plastic packaging, Novolex also makes paper-based packaging. The plastics side includes extensive plastic bag-to-bag recycling operations, including facilities in North Vernon, Ind., and Shawano, Wis.