Rhône, a global private equity firm, announced that it has agreed to acquire Paragon Films, Inc. Paragon is a 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. According to company, the result is the industry’s thinnest stretch film—a product that significantly reduces waste and overall carbon footprint at a lower cost to the user.
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.”
