Divestiture • Packaging

Novolex Acquires Clondalkin - North American Flexible Packaging Businesses

On April 2, 2013, Novolex acquired packaging company Clondalkin - North American Flexible Packaging Businesses from Clondalkin

Acquisition Context
  • This is Novolex’s 1st transaction in the Packaging sector.
  • This is Novolex’s 1st transaction in the United States.
  • This is Novolex’s 1st transaction in Connecticut.

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M&A Deal Summary

Date April 2, 2013
Target Clondalkin - North American Flexible Packaging Businesses
Sector Packaging
Buyer(s) Novolex
Sellers(s) Clondalkin
Deal Type Divestiture

Target Company

Clondalkin - North American Flexible Packaging Businesses

Old Saybrook, Connecticut, United States
Clondalkin's North American Flexible Packaging Businesses specialize in blown film extrusion, conversion and printing of both mono and multilayer packaging solutions throughout its seven production facilities in North America.
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Buyer Overview 1

Buyer

Novolex

Charlotte, North Carolina, United States

Category Company
Founded 2003
Sector Packaging
DESCRIPTION

Novolex is a manufacturer of paper and plastic flexible packaging products. Novolex serves customers across foodservice, grocery, retail, and industrial end markets with a diverse product portfolio including retail and specialty bags, food packaging products, and a broad range of specialty films and laminated products. Novolex was founded in 2003 and is headquartered in Charlotte, North Carolina.


Deal Context for Buyer #
Overall 1 of 13
Sector: Packaging 1 of 10
Type: Divestiture 1 of 2
State: Connecticut 1 of 2
Country: United States 1 of 12
Year: 2013 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-08 Duro Bag Manufacturing Co.

Florence, Kentucky, United States

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.

Buy -

Seller Profile 1

SELLER

Clondalkin

Amsterdam, Netherlands

Category Company
Sector Packaging
Revenue 700M USD (2013)
DESCRIPTION

Clondalkin is an international producer of high value added packaging products and services, with over 35 production locations in eight countries throughout Europe and North America. Clondalkin is based in Amsterdam, Netherlands.


Deal Context for Seller #
Overall 1 of 3
Sector: Packaging 1 of 3
Type: Divestiture 1 of 3
State: Connecticut 1 of 1
Country: United States 1 of 2
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-03 Accutech Films

Coldwater, Ohio, United States

Accutech Films, Inc. (Accutech” or the “Company”; www.accutechfilms.com) is a leading producer of customized, highly-engineered flexible plastic films for packaging and protective applications. Accutech’s films are designed according to a wide range of specifications, such as thickness, strength, permeability, heat sensitivity, clarity, and corrosion resistance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-11 Clondalkin - Packaging Division

Amsterdam, Netherlands

Clondalkin has two facilities in Ireland, a site in Dublin used to make fine paper for office and commercial printing use and a factory in Cork that is a major supplier and manufacturer of packaging materials for the pharmaceutical and medical device sectors. Clondalkin’s speciality packaging division, which has 24 sites in total.

Sell $455M