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Novolex to buy certain assets and business operations of Shields Bag and Printing

PKBR Staff Writer Published 05 December 2017

The Carlyle Group’s portfolio company Novolex has agreed to purchase certain assets and business operations of Shields Bag and Printing for an undisclosed sum.

Based in Yakima of Washington, Shields Bag and Printing is engaged in the manufacturing of custom engineered flexible packaging products.

The company, which was established in 1935, is expert in blown film extrusion, printing, bag making and other converting processes.

Shields’ custom engineered products will be used in different end-market segments such as building and construction, food and consumer, banking and security, lawn and garden, chemicals and energy and general industrial.

The deal is expected to be completed by the end of this year.

Shields Bag and Printing CEO Lisa Shields said: “Becoming part of Novolex will allow the legacy of Shields Bag and Printing and its employees to continue to grow and prosper.

“They are committed to employee safety and welfare, as well as the communities where they live and work. That’s very important to the Shields’ Family and it was an essential requirement for the transaction.”

Novolex chairman and CEO Stan Bikulege said: “This transaction is very important to our shared future. The Shields team and products are a great fit for Novolex.”

Earlier, Shields also acquired Burrows Packaging, Heritage Bag, Wisconsin Film & Bag, Packaging Dynamics and a portion of Clondalkin Group’s North American flexible packaging division.

With around 7,300 employees, Novolex operates 46 manufacturing plants and generates revenue up to $2.5bn per annum.