Flexible packaging specialist Novolex will be reportedly put up for sale by private equity firm Wind Point Partners, in a deal that could value the packaging firm at $1.75bn.

Deutsche Bank and Macquarie Group have been selected by Wind Point Partners to hold the auction, Reuters reported, citing people familiar with the matter.

"Deutsche Bank and Macquarie Group have been selected by Wind Point Partners to hold the auction."

Headquartered in the US, Novolex employs more than 5,000 people across 31 facilities in the US, as well as three in Canada and one in Mexico.

The company offers paper bags and plastic grocery bags under various brands, including Bagcraft Packaging, Pac Paper, De Luxe Packaging, International Converter and General Packaging Products.

Formerly known as Hilex Poly, Novolex was acquired by Wind Point Partners in 2012 from TPG Growth for an undisclosed sum.

Last year, Novolex acquired food packaging producer Packaging Dynamics from buyout firm Kohlberg for $570m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

This was the third acquisition by Novolex, which earlier acquired portions of the North American Flexible Packaging division of Amsterdam-based Clondalkin Group in 2013, and Duro Bag Manufacturing Company.