CHARLOTTE, N.C., May 4, 2018 /PRNewswire/ -- Novolex, a
portfolio company of The Carlyle Group and an industry leader in
packaging choice and sustainability, today announced it will
acquire The Waddington Group from Newell
Brands, Inc. The transaction is expected to close in
approximately 60 days.
Headquartered in Covington,
Ky., The Waddington Group is a global manufacturer and
marketer of packaging and disposables serving the foodservice,
bakery, deli, produce and confectionery markets. Novolex is a
leading provider of packaging solutions serving retail, grocery,
food service, hospitality, institutional and industrial
markets.
"We are excited to add The Waddington Group to the Novolex
family of businesses," said Stan
Bikulege, Chairman and CEO of Novolex. "This is a period of
strategic growth and development at Novolex. Adding rigid plastic
food packaging and an expanded range of sustainable packaging
products have been key strategic priorities, and The Waddington
Group has long been our top acquisition target. The company brings
Novolex world-class product innovation, long-term customer
relationships, and, most importantly, adds to our talented and
dedicated team. We are excited to have Waddington CEO John Wurzburger and his team join the Novolex
family."
The Waddington Group has a footprint that includes 16 sites in
the U.S., Canada, Ireland, The
Netherlands and the U.K., and approximately 3,000 employees
worldwide. "The Waddington Group is a great fit for Novolex. The
company has a strong track record of developing innovative
packaging solutions and, like Novolex, is a market leader in
sustainability," Stan added.
The acquisition of The Waddington Group is Novolex's eighth
since 2012. Previous Novolex acquisitions include Shields Bag &
Printing (January 2018), Burrows
Packaging (December 2016), Heritage
Bag (April 2016), Wisconsin Film
& Bag (September 2015), Packaging
Dynamics (December 2014), Duro Bag
(July 2014) and a portion of
Clondalkin Group's North American Flexible Packaging Division
(April 2013).
"The Novolex team and our financial partners have brought
together a select group of great businesses – all leaders in their
respective product categories – into the Novolex family. The
companies that have joined our family are investing, growing and
performing well," Stan noted. "We are grateful for the
support of The Carlyle Group as we take this big step with The
Waddington Group."
"Novolex and The Carlyle Group have forged a strong
partnership," said Wes Bieligk,
Principal, The Carlyle Group. "This acquisition illustrates our
meaningful commitment to Novolex's growth plans. We have great
confidence in Stan and his
team."
With the addition of The Waddington Group, Novolex will have
approximately 10,000 team members and 62 manufacturing plants
worldwide.
Equity for the acquisition will come from Carlyle Partners VI, a
$13 billion U.S. buyout fund.
About Novolex
Novolex is one of North America's leaders in packaging choice
and sustainability serving retail, grocery, food service,
hospitality, institutional and industrial markets. With the pending
addition of The Waddington Group, the company will have
approximately 10,000 team members and 62 manufacturing plants
worldwide. Headquartered in Hartsville,
S.C., the Company's brands include Hilex
Poly®, Duro Bag®, Bagcraft® Packaging, De
Luxe® Packaging, General Packaging Products, International
Converter, Shields®, Heritage® Bag, and Burrows
Packaging™. For more on Novolex and its sustainability
leadership, visit www.Novolex.com.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG)
is a global alternative asset manager with $201 billion of assets under management across
324 investment vehicles as of March 31,
2018. Carlyle's purpose is to invest wisely and create value
on behalf of its investors, many of whom are public pensions.
Carlyle invests across four segments – Corporate Private Equity,
Real Assets, Global Credit and Investment Solutions – in
Africa, Asia, Australia, Europe, the Middle
East, North America and
South America. Carlyle has
expertise in various industries, including: aerospace, defense
& government services, consumer & retail, energy, financial
services, healthcare, industrial, real estate, technology &
business services, telecommunications & media and
transportation. The Carlyle Group employs more than 1,575 people in
31 offices across six continents. www.carlyle.com.
About The Waddington Group
The Waddington Group (TWG)
is a major global packaging manufacturer and marketer headquartered
in Covington, Ky., Waddington's
brands include Eco-Products, the leader in the green packaging
space; POLAR PAK® containers, serving ware, drink-ware and cutlery;
and WNA upscale disposable plastic products. TWG has 3,000
team members and 16 manufacturing locations worldwide. TWG is a
subsidiary company of Newell Brands,
Inc., a global consumer goods company.
Media Contact:
Mark Daniels, Novolex™
Phone (904) 834-3707
Mark.Daniels@Novolex.com
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SOURCE Novolex