Crown Holdings, Inc. announced that it has entered into an agreement to acquire Signode Industrial Group Holdings (Bermuda) Ltd., a leading global provider of transit packaging systems and solutions, from The Carlyle Group, in a cash transaction valued at $3.91 billion subject to customary closing adjustments. The acquisition, which is subject to review by various competition authorities, is expected to close during the first quarter of 2018 and to significantly increase free cash flow. Debt financing has been fully committed in support of the transaction. With pro forma sales and adjusted EBITDA of $2.3 billion and $384 million, respectively, for the twelve months ended November 30, 2017, Signode is the world's leading supplier of transit packaging systems and solutions, which consist of strap, stretch and protective packaging consumables and the application equipment and tooling for each. Based in Glenview, Illinois, Signode's global footprint includes operations in 40 countries across 6 continents, with sales to customers in approximately 60 countries. Click Read More below for additional information.
Hilex®, a Novolex® brand, today announced the launch of RollStar EZ Open Produce Bags that solve a vexing problem for shoppers: how to open a produce bag with sides that “stick” together.
The new bags use a proprietary recipe that makes them easy to open, simplifying life in the fresh fruit and vegetable department. The bags come in a wide variety of sizes and gauges, including versions certified as compostable by the Biodegradable Products Institute (BPI).
“As shoppers, we’ve all struggled to open produce bags, rubbing the end of the bag between our thumb and fingers, hoping the two sides will separate and the bag will open,” said Harry Wilfong, Manager of Technology – Flexibles for Novolex. “RollStar EZ Open Produce Bags solve this frustration. It’s amazing just how simple and easy it is to open these bags and place produce inside.”
RollStar EZ Open Produce Bags come in different gauges and sizes for fruits and vegetables. Also available are RollStar bags designed for meat, fresh seafood and bakery items. The RollStar compact dispenser makes it simple for shoppers to take one bag at a time, reducing waste by ensuring they take only the bags they need.
In addition to being easier to open, the new bags offer a number of other key features:
*The Star Seal bottom bags are leak-proof and stronger than conventional flat seal bags;
*The universal dispenser is narrow, fits in a variety of spaces and is compatible with most roll bags;
*Custom fixtures and custom prints are available;
*The bags are made at multiple manufacturing facilities, ensuring business continuity for single-source customers.