Hilex Poly, a portfolio company of Wind Point Partners, has acquired Duro Bag Manufacturing Company. No financial terms were disclosed. The Peakstone Group was the M&A advisor to Duro on the transaction. Based in Florence, Kentucky, Duro is a maker of paper bags for foodservice, grocery, wholesale distribution and other markets.
CHICAGO, IL–(Marketwired – Jul 8, 2014) – The Peakstone Group served as exclusive M&A advisor to Duro Bag Manufacturing Company on its sale to Hilex Poly.
Duro Bag Manufacturing Company, based in Florence, KY, is a leading manufacturer and marketer of paper bags for foodservice, grocery, wholesale-distribution and other markets. Duro produces grocery bags, handle bags, compostable paper lawn and leaf bags, and various specialty bags, including lunch bags, pharmacy bags, Freshness Paper™ bread bags, and food service bags, as well as a broad range of premium paper shopping bags for luxury retailers in North America.
Hilex Poly (a portfolio company of Wind Point Partners), based in Hartsville, SC, 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.
Nick Clementi, Peakstone Managing Director, said, “Peakstone has dedicated significant resources to the paper, plastics and packaging industry. Our team has a mix of operating expertise along with strategic advisory and transaction execution capabilities enabling us to offer clients unique perspectives on the market and deliver customized strategic solutions for them.”
The Duro-Hilex transaction is the latest in a series of recent packaging transactions for Peakstone. The firm also acted as exclusive advisor to Graphic Management Specialty Products on its sale to Hoffmaster Group, Pure Pulp in connection with its transaction with Fabri-Kal, and Kickapoo Valley Cheese in its sale to Biery Cheese.
Eric Dziedzic, Peakstone Managing Director, commented, “Peakstone focuses primarily on representing family-owned and entrepreneur-owned business in strategic merger and acquisition and capital raising transactions. On the Duro sale, we understood the unique needs of the owners, successfully identified an excellent partner for the Company and delivered a great outcome for this second generation family-owned business.”
Terms of the transaction were not disclosed.
About The Peakstone Group
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