HPC Industries Buys Vanguard Plastics

0

Hilex Poly Co. LLC, a subsidiary of L.A.-based HPC Industries Inc., announced Friday that it acquired Vanguard Plastics Inc. to form what HPC claimed would be the world’s largest manufacturer of plastic carryout packaging for retailers.


Financial details were not disclosed.


HPC said the acquisition will result in a new company with 12 manufacturing plants with national distribution and annual sales of about $650 million. Atlanta-based investment bankers Dewberry Cesinger Hodgson LLC handled the transaction.


Hilex, whose headquarters is in Hartsville, S.C., had 2004 revenue of over $650 million, primarily from manufacturing plastic bags and packaging film products that were distributed to retail grocery stores. Garland, Texas-based Vangaurd, which had 2004 sales of $300 million, specializes in producing bags for groceries, restaurants and department stores.

No posts to display