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
View original content:http://www.prnewswire.com/news-releases/novolex-to-acquire-the-waddington-group-from-newell-brands-300642786.html
SOURCE Novolex