Novolex, an industry provider of sustainability-focused packaging. has entered into a definitive agreement to acquire the business of Flexo Converters USA Inc. and certain of its affiliates. Flexo is a manufacturer of stock, custom and recycled paper bags and sacks. Flexo products will be sold under the Novolex Duro Bag brand.
“Flexo is an exciting addition to our company, and we welcome the skilled and committed team to the Novolex family,” said Stan Bikulege, chairman and CEO of Novolex. “Flexo’s strong reputation for high-quality products, on-time delivery and value-added services will support us in pursuing future growth opportunities for all of Novolex.”
Paul Frantz, president of the food and delivery segment of Novolex, added, “Flexo is a great fit at the perfect time because Flexo allows Novolex to support the increasing demand from our foodservice and grocery customers for take-out and delivery packaging.”
“Creating quality products and meeting customer demands has been part of the Flexo story since our family started in the industry 40 years ago,” said Anik Patel, vice president of operations and COO at Flexo. “We are excited to join the Novolex family with its reputation of leadership and innovation in our industry, as well as its history of welcoming independent businesses and their employees to the integrated organization.”
Novolex is a portfolio company of The Carlyle Group, a global investment firm that acquired a majority of the company in December 2016.