{"id":19163,"date":"2022-04-14T07:52:28","date_gmt":"2022-04-14T14:52:28","guid":{"rendered":"https:\/\/marketdepth.com\/?p=19163"},"modified":"2022-04-14T07:52:29","modified_gmt":"2022-04-14T14:52:29","slug":"apollo-global-management-completes-acquisition-of-a-majority-stake-in-novolex-holdings-llc","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/apollo-global-management-completes-acquisition-of-a-majority-stake-in-novolex-holdings-llc\/","title":{"rendered":"Apollo Global Management Completes Acquisition of a Majority Stake in Novolex Holdings LLC"},"content":{"rendered":"\n
Apollo Global Management, Inc. (NYSE: APO)<\/strong> announced Thursday that funds managed by Apollo affiliates have completed the acquisition of a majority stake in Novolex Holdings LLC, a leading global manufacturer of diverse and sustainable packaging products for the foodservice, delivery and carryout, food processor and industrial markets, from funds managed by Carlyle (NASDAQ: CG). Carlyle will retain a minority stake in the Company.<\/p>\n\n\n\n \u201cPartnering with Apollo is a milestone for the entire Novolex family. Our organizations share values and a vision for the future of the packaging industry, offering our customers choice, innovation and sustainability to support the circular economy. Our ability to access sustainability-linked financing reflects our ongoing commitment to advance a range of ESG initiatives.”<\/p>Stan Bikulege, Novolex Chairman and CEO<\/cite><\/blockquote>\n\n\n\n The financing for the acquisition includes the largest-ever sustainability-linked loan issued to date. Additional financial terms of the transaction were not disclosed.<\/p>\n\n\n\n \u201cWe are pleased to have completed our investment in Novolex and are excited to partner to drive innovation and growth. Our shared commitment to driving a more sustainable future was integral to our investment in Novolex, and we look forward to working together to realize the Company\u2019s growth strategy, while further strengthening its blue-chip customer base and suite of food packaging products.\u201d<\/p>Rob Seminara, Partner at Apollo<\/cite><\/blockquote>\n\n\n\n \u201cCarlyle has been proud to be a part of the Novolex story,\u201d said Wes Bieligk, Managing Director at Carlyle. \u201cThe company\u2019s tremendous growth has been fueled by innovation and a commitment to sustainable operations and new product introductions. We look forward to continuing our relationship with Novolex in the years to come.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Apollo Global Management, Inc. (NYSE: APO) announced Thursday that funds managed by Apollo affiliates have completed the acquisition of a majority stake in Novolex Holdings LLC, a leading global manufacturer of diverse and sustainable packaging products for the foodservice, delivery and carryout, food processor and industrial markets, from funds managed by Carlyle (NASDAQ: CG). Carlyle… View Article<\/a>","protected":false},"author":3,"featured_media":18750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,17,11,16],"tags":[],"acf":[],"yoast_head":"\n