July 7, 2014
Hilex Poly Acquires Duro Bag
Deal brings two sustainable packaging leaders together to broaden product offerings
Wind Point Partners announced today that portfolio company Hilex Poly, a manufacturer and recycler of plastic packaging products, has acquired Duro Bag Manufacturing Company.
Duro Bag is one of the leading providers of innovative point-of-purchase paper bags to key markets throughout the United States, including 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.
“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.”
- Alex Washington, Managing Director
Wind Point acquired Hilex Poly in 2012, in partnership with CEO Stan Bikulege. Prior to joining Hilex, Stan served as the CEO of Exopack, a paper/plastic converting company, and Renaissance Mark, a label company.
“The acquisition of Duro Bag will enable us to expand our portfolio of 100 percent recyclable products to meet customer demands as well as broaden our reach to other market segments,” said Bikulege. “Hilex continues to focus on developing products that are recyclable, sustainable and environmentally friendly. We are pleased and excited to welcome the Duro Bag family into Hilex.”
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.”