DuPont has sold its flexible bag-in-box subsidiary Liqui-Box to US private equity outfit The Sterling Group.
Liqui-Box Corp, which is headquartered in Ohio, supplies bag-in-box flexible packaging to the global dairy, beverage and bulk food markets.
Houston-based Sterling Group announced last week the acquisition was the third it had made with a US$820m fund that it put together in 2010.
The buyout is Sterling’s fourth company purchase from DuPont, said the investment firm.
Focus on expansion
It added that the bag-in-box firm produced packaging primarily aimed at the food service industry to package dairy mix for milkshakes and coffee drinks, fountain beverage syrup and pumpable liquid foods such as food concentrates and sauces.
Liqui-Box’s outputs include includes consumables, such as fitmented bags and pouch films, as well as filling machines.
Company chief Roszann Graham hailed the deal and said the move would allow the Worthington-based company to enlarge its operations.
“The entire Liqui-Box team is energized to partner with Sterling who has a proven track record of successfully transitioning unique, specialty businesses like ours to more nimble, stand-alone companies and equipping them for future growth,” added the CEO. “We look forward to executing on a number of initiatives to expand our business and enhance our delivery of top quality products to our customers,”
Sterling partner Greg Elliot said applauded the way its new asset had positioned itself in the market to be a leading bag-in-box provider.
“Over the past several years, Liqui-Box has streamlined its operations to focus on its core products. Our focus now is to expand our global footprint, invest in technology and expand our offering of solutions to our customers,” he added.