Oct 27 2005
Hilex Poly Company, LLC has announced the purchase of Vanguard Plastics, Inc., creating the largest retail carryout packaging manufacturer in the world. The combined company has twelve strategically located manufacturing plants which provide customers with seamless nationwide coverage. Furthermore, Hilex's market position in the agricultural and industrial film segments will be fortified with the addition of the Vanguard packaging film plant in Garland, TX.
"The combined companies will have annual sales in excess of $650 million," stated Leon Farahnik, Chairman of HPC Industries in Los Angeles, CA, the parent company of Hilex. "The scale, by far the largest in the world, will provide a strong economic platform for future growth. The combined Company has the broadest suite of products in the industry and our service will continue to set the standard for the industry."
"Vanguard Plastics is enthusiastic about the transaction," said William Seanor, Chairman and CEO of Vanguard. "The consolidated company will result in a more competitive entity that provides greater opportunity and security for our dedicated employees while continuing to provide our customers with the highest quality products and services that has been a tradition of Vanguard."
Hilex has initiated several progressive environmental programs, including a significant investment in a "state-of-the-art" recycling facility designed to take used bags and return them to the market as new bags for customer use. In addition, Hilex's "bag to bag" and curbside collection initiatives have created an entirely new consumer friendly approach to plastic bag recycling. Hilex is continuing to define the market with both the revolutionary "QuikStar" produce bagging system and the "Rhino" bag a larger, stronger bag which promotes reduced bag usage.
Steve Cesinger, President of Dewberry Cesinger Hodgson, an Atlanta, GA investment firm, stated, "We are pleased to execute such a synergistic acquisition as a major step in Hilex's growth strategy and look forward to pursuing other complementary business combinations."
Hilex is a member of both the Los Angeles, CA based HPC group of companies, as well as DCHI Investment Holdings, an affiliate of Dewberry Cesinger Hodgson. In addition to Hilex Poly, PWP Industries is also a member company of HPC.
http://www.hilexpoly.com