Novolex, headquartered in Hartsville, SC, a portfolio company of The Carlyle Group and an industry leader in packaging choice and sustainability has agreed to buy certain assets and business operations of Shields Bag and Printing Co., located in Yakima, WA, is a leading manufacturer of custom engineered flexible packaging products. With the addition of Shields, Novolex, now a $2.5 billion revenue company will have 46 manufacturing plants: 41 in the United States (including two world-class plastic recycling facilities), three in Canada, and one each in Mexico and The Netherlands. The transaction is expected to close near year end.
Shields Bag and Printing Company, founded in 1935, is a fourth-generation private business. Shields, a leading North American producers of flexible packaging with substantial capabilities operate in the areas of blown film extrusion, printing, bag making and other converting processes with core focus is providing custom engineered products to a diverse group of customers across a range of end-market segments, including building and construction, food and consumer, banking and security, lawn and garden, chemicals and energy, and general industrial.
Lisa Shields, CEO of Shields, said, “Becoming part of Novolex will allow the legacy of Shields Bag and Printing and its employees to continue to grow and prosper. This is an ideal fit. Novolex™ leadership is very much aligned with our principles at Shields. 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.”
“We are excited about bringing the Shields Bag and Printing’s team into the Novolex family,” said Stan Bikulege, Chairman and CEO of Novolex. “This transaction is very important to our shared future. The Shields team and products are a great fit for Novolex. We are pleased to continue and grow the 82-year legacy of success in serving customers created by the Shields Family. And we are proud to welcome more than 500 Yakima-based employees and their families to ours. This is a big day for all of us.”