“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.”
Duro Bag is one of the leading providers of innovative point-of-purchase paper bags to key markets throughout the United States such as food service, specialty retail, grocery, and mass merchant. The combined company will have over 3,000 manufacturing jobs in the U.S. and more than 600 in Canada and Mexico.
“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,” Bikulege said.
Hilex is majority owned by Wind Point Partners, a Chicago-based private equity investment firm. Alex Washington, a managing director at Wind Point, said “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.”
Hilex Poly, based in Hartsville, S.C., is an industry leading manufacturer of flexible packaging products, ranging from bags for grocery, retail, and food service markets, to can liners and specialty films.