Cady Bag Co., a longtime Pearson, Ga., business rescued from bankruptcy by members of its founder’s family, has invested $5 million to purchase the company back from its previous owners, and will invest another $1 million in machinery to create 50-75 new jobs in the next two years, as the new owners streamline its product lines and processes.
The most recent owners of the company, which was founded in 1957 by William H. Cady, had expanded its line of packaging products, but filed for Chapter 11 bankruptcy in September 2006. Members of Cady’s family and Morris Capital, an investment group, stepped in to purchase the company, which will now focus on manufacturing items close to its original product line: polypropylene fabrics, agricultural packaging and geotextile fabrics.
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