Carlyle Group-backed Novolex acquired The Waddington Group for $2.3bn.

Carlyle Group-backed Novolex, an industry leader in packaging choice and sustainability, acquired The Waddington Group, a major global packaging manufacturer and marketer, from Newell Brands, an American worldwide maker, marketer and distributor of consumer and commercial products, for $2.3bn. "We are excited to add The Waddington Group to the Novolex family of businesses," said Stan Bikulege, Chairman and CEO of Novolex. "This is a period of strategic growth and development at Novolex. 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. The company brings Novolex world-class product innovation, long-term customer relationships, and, most importantly, adds to our talented and dedicated team. We are excited to have Waddington CEO John Wurzburger and his team join the Novolex family."