NEW YORK and LONDON – November 11, 2021 – Rhône, a global private equity firm, announced today that it has agreed to acquire Paragon Films, Inc. Paragon is a market leading manufacturer of ultra high-performance cast stretch films that are principally used to unitize product loads while in storage and transit by customers in e-commerce, fast moving consumer goods and other essential industries. The Company operates three state of the art manufacturing facilities in Oklahoma, North Carolina, and Washington state with headquarters in Broken Arrow, Oklahoma.
Founded in 1988, Paragon is highly regarded for producing technologically advanced stretch films, focused on sustainability at every step from design to formulation. The result is the industry’s thinnest stretch film—a better product that significantly reduces waste and overall carbon footprint at a lower cost to the user. As a purpose-driven company, Paragon is committed to being the most sustainable stretch film manufacturer in the world by offering films consistent with its tagline: Thinner. Stronger. Greener.
Eytan Tigay and Lucas Flynn, Managing Directors of Rhône, stated: “Through this investment, and in partnership with the Paragon management team, Rhône intends to capitalize on favorable secular macro trends in transit packaging, and the continued adoption of more sustainable product offerings. Through our deep sector experience and international network, Rhône is well positioned to support Paragon as the company expands its footprint and continues to invest in product innovations that set the industry standard.”
Darin Tang, CEO of Paragon Films, said: “Rhône’s investment marks an exciting new chapter for Paragon. We were attracted to Rhône’s experience in partnering with companies to evolve and strengthen their businesses in the U.S. and abroad. I believe Rhône will be a great partner as we continue our global expansion and broaden our portfolio of ultra high-performance, sustainability-focused products.”
The transaction is expected to be completed by the end of the year. The terms of the transaction were not disclosed.
About Paragon Films
Paragon was founded in 1988 and is highly regarded for producing technologically advanced stretch films on a platform of sustainability. From design and formulation to end user application, Paragon Films focuses on stretch film sustainability at every step. The result is the industry’s thinnest stretch film—a better product that significantly reduces waste and overall carbon footprint. Paragon believes their tagline says it best: Thinner. Stronger. Greener. Learn more about Paragon Films at www.paragonfilms.com
Rhône, established in 1996, is a global private equity firm with a focus on investments in businesses with a transatlantic presence. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhône has a history of successful corporate carve-out transactions and working with entrepreneur and family-led businesses, and operates across its London, New York and Madrid offices. Rhône has invested in a diversified portfolio of companies including investments in the business services, consumer, and industrial sectors. For more information about Rhône, its investment professionals, and its current portfolio, please visit: www.rhonegroup.com.
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