Newell Brands (Hoboken, New Jersey / USA; www.newellbrands.com) is continuing its "Accelerated Transformation" downsizing strategy – see Plasteurope.com of 06.02.2018. Packaging company Novolex (Hartsville, South Carolina / USA; www.novolex.com) has announced it will acquire The Waddington Group (Covington, Kentucky / USA; www.thewaddingtongroup.com) from Newell Brands. Gross proceeds from the sale are expected to be approximately USD 2.3 bn, and the transaction is expected to close within two months.

Newell Brands was formed from the merger of Newell Rubbermaid and Jarden Corporation – see Plasteurope.com of 16.12.2015. The Waddington Group manufactures and markets packaging and disposables serving the foodservice, bakery, deli, produce and confectionery sectors. The Kentucky-based company has 16 sites in the US, Canada, Ireland, the Netherlands and the UK, and approximately 3,000 employees worldwide.

A portfolio company of the Carlyle Group (Washington, D.C. / USA; www.carlyle.com) – see Plasteurope.com of 01.12.2016 – Novolex has had seven acquisitions since 2012. These are Shields Bag & Printing in January 2018, Burrows Packaging in December 2016, Heritage Bag in April 2016, Wisconsin Film & Bag in September 2015, Packaging Dynamics in December 2014, Duro Bag in July 2014 and a portion of Clondalkin Group's North American Flexible Packaging Division in April 2013 – see Plasteurope.com of 14.11.2014.

Novolex produces packaging solutions for the retail, grocery, food service, hospitality, institutional and industrial markets. Chairman and CEO Stan Bikulege says, "Adding rigid plastic food packaging and an expanded range of sustainable packaging products have been key strategic priorities, and The Waddington Group has long been our top acquisition target." With the Waddington addition, Novolex will have around 10,000 employees and 62 manufacturing plants worldwide.