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Novolex Closes on Acquisition of Flexo Converters USA, Inc.

Hartsville, S.C. (News release) - Novolex, an industry leader in packaging choice, innovation, and sustainability, announced it has acquired the business of Flexo Converters USA, Inc. and certain of its affiliates. The intention to acquire was originally announced May 17.

Flexo is a manufacturer of stock, custom and recycled paper bags, and sacks. A family-owned business, Flexo was founded in 1994. It is headquartered and has a manufacturing facility in Meriden, CT and an additional plant in Monroe, GA.

Flexo products will be sold under the Novolex Duro Bag® brand. The addition of Flexo products to the Novolex portfolio will enable Duro to support customer demand through Flexo's production capacity. Novolex has seen a significant increase in demand for paper bags and sacks as consumer purchasing patterns have shifted.

Novolex is a portfolio company of The Carlyle Group, a leading global investment firm which acquired a majority of the company in December 2016.

About Novolex
Novolex develops and manufactures diverse packaging products for multiple industries in the foodservice, delivery and carryout, food processor and industrial markets that touch nearly every aspect of daily life. The Novolex family of brands provides customers with innovative food and delivery packaging and performance solutions products for their business needs today while investing in research and development to engineer more sustainable choices for the future. With more than 10,000 employee families, Novolex operates 55 manufacturing facilities in North America and Europe, including two world-class plastic film recycling centers. To learn more about Novolex, visit www.Novolex.com.

About Flexo
The Flexo business was founded in 1994 in Meriden, CT. Its Monroe, GA facility opened in 2016. Its reputation for high quality, on-time delivery and value-added services resulted in sales growth to restaurants and food service distributors in 2020.

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