Hi-Cone

What Hi-Cone does

Hi-Cone is a global supplier of ring carrier multi-packaging systems for the beverage industry, operating as a division of Illinois Tool Works Inc. (NYSE: ITW) and headquartered in Itasca, Illinois with operations in Mexico (Tlalnepantla manufacturing), Spain (La Garriga European headquarters), and the United Kingdom. The company manufactures LDPE (low-density polyethylene) ring carriers that bundle canned and bottled beverages for global beer and non-alcoholic ready-to-drink (NARTD) brands, with its flagship RingCycles™ product containing +50% post-consumer recycled (PCR) content validated through Life Cycle Assessment methodology conducted by Franklin Associates.

The core technology revolves around PCR-formulated LDPE ring carriers with documented environmental advantages (90% less non-renewable energy, 83% less water consumption, 75% less GHG emissions, 43% less plastic waste versus virgin plastic; 76% lighter than shrink film). Hi-Cone's business model is direct B2B enterprise sales of hardware (ring carriers) to major Consumer Packaged Goods companies — Heineken Mexico, Coca-Cola European Partners, Pepsi, Carlsberg, Orangina Schweppes, and Grupo Modelo — supplemented by the Multi-Promotional Carrier (MPC) product line that enables on-pack marketing messaging, and the RingRecycleMe™ consumer-facing recycling program operated in partnership with Avangard Innovative (US), TerraCycle (UK), and retail partners including Walmart Mexico y Centroamerica.

Revenue is generated through quote-based B2B sales of manufactured ring carrier products, with no disclosed pricing or per-unit economics. The company has committed via the U.S. Plastics Pact and Ellen MacArthur Foundation New Plastics Economy to achieving 100% recyclable, biodegradable, or compostable packaging by 2025, and reports that RingCycles alone displaces more than 25 million pounds of virgin plastic annually. Go-to-market combines direct enterprise sales, retail partnerships for consumer-facing collection infrastructure, sustainability thought leadership content (State of Plastic Recycling reports, Reuters/Waste360 webinars), and engagement with industry coalitions (Ocean Conservancy, U.S. Plastics Pact, Enactus).

Name

Hi-Cone

Legal name

ITW Hi-Cone

Website

https://hi-cone.com

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

101–250 employees

Short description

Hi-Cone, a division of Illinois Tool Works Inc., manufactures LDPE ring carrier multi-packaging systems with +50% post-consumer recycled content for global beer and beverage CPG brands, operating from the US, Mexico, and Spain.

Ownership category

akta.pro rank

Product category

Beverage Multi-Pack Packaging (Ring Carriers)

akta.pro primary industry

Secondary Packaging & Case Packing (Multipacks, Shrink, Cartoning) (AFAFAJAK)

akta.pro secondary industries

Beverage Packaging (Bottles, Cans, Cartons, Kegs) (IMALAHAD), Alcoholic Beverage Packaging & Closures Brands (Bottles, Cans, Kegs, Corks, Caps) (CRADAIAK)

Keywords

• Ring carrier packaging
• Multi-packaging systems
• Post-consumer recycled packaging
• Beverage multi-pack solutions
• PCR ring carriers

Headquarters

HQ city

Itasca

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Ring Carrier Manufacturing and Sales: B2B manufacturing and sale of plastic ring carrier multi-packaging systems to global beverage brands and CPG companies. Products include standard ring carriers and RingCycles PCR variants. Revenue generated through product sales to customer base.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Hi-Cone manufactures and sells LDPE ring carrier multi-packaging systems that bundle canned and bottled beverages into 4/6/8 packs, 24/32 bulk packs, and promotional configurations. Its flagship RingCycles™ line is produced from more than 50% post-consumer recycled (PCR) content, and the company sells these physical carriers directly to global beer and NARTD beverage brands and CPG customers, supplemented by branded recycling programs and Life Cycle Assessment services.

Product overview

Hi-Cone is a leading supplier of ring carrier multi-packaging systems for global beer and non-alcoholic ready-to-drink (NARTD) beverage markets. The company's core product portfolio centers on RingCycles™, which features +50% post-consumer recycled (PCR) content, and traditional ring carriers. Additional offerings include the Multi-Promotional Carrier (MPC) for branded messaging at point of sale, the RingRecycleMe™ consumer recycling program for circular economy engagement, and the historical Ring Leader Collection Program. Hi-Cone also provides Life Cycle Assessment (LCA) services to quantify environmental impact of their packaging solutions. The company has committed to becoming 100% recyclable, biodegradable, or compostable by 2025.

Differentiator

Problem solved

Functional benefit

Brands

• RingCycles: Post-consumer recycled ring carriers with +50% PCR content, reducing virgin plastic use.
• RingRecycleMe

Products and services

• RingCycles™ Ring carrier multi-packaging system manufactured from more than 50% post-consumer recycled (PCR) LDPE content, designed for canned and bottled beverages. Verified through Life Cycle Assessment data from Franklin Associates to deliver significantly reduced environmental impact versus virgin plastic, shrink film, and paperboard alternatives. Sold to global beer and NARTD beverage brands as a drop-in sustainable multi-pack carrier.
• Multi-Promotional Carrier (MPC)

Quantifiable outcome

• RingCycles carriers use 90% less non-renewable energy, 83% less water, result in 75% less GHG emissions, and generate 43% less plastic waste compared to virgin plastic production
• +7 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered major, core and minor.

• Walmart Mexico y CentroamericamajorGTM or Marketing Partner · 1 June 2025Partnership to expand in-store recycling programs and help close the loop on circular economy. Walmart supports in-store recycling banks for ring carriers. Collaborative video with Heineken Mexico and Hi-Cone highlights PCR transition and recycling programs.
• U.S. Plastics PactcoreStrategic or Co-development Partner · 1 October 2020Joined as Activator member. Collaborative initiative led by The Recycling Partnership, World Wildlife Fund (WWF), and Ellen MacArthur Foundation. Committed to four goals: eliminate problematic packaging by 2025, make all packaging reusable/recyclable/compostable by 2025, effectively recycle 50% of plastic packaging, and achieve 30% average recycled content by 2025.
• EnactusminorGTM or Marketing Partner · 1 September 2020Co-sponsored Race to Rethink Plastics global competition alongside Coca-Cola Company and Dell. Challenge motivated university and college students worldwide to devise creative solutions for plastic use, recycling and disposal. Jennifer Perr, Sustainability Director, participated in panel discussion.
• Avangard InnovativecoreStrategic or Co-development Partner · 14 August 2020Partnership with Houston-based plastics recycler, worldwide leader in #4 LDPE recycling. Launched RingRecycleMe program to collect and recycle ring carriers into PCR pellets for manufacturing new RingCycles carriers. Creates circular economy loop keeping ring carriers in recycled production loop and out of landfills. Avangard Innovative supplies post-consumer recycled resin (PCR) pellets from NaturaPCR facilities.
• TerraCyclecoreStrategic or Co-development Partner · 1 November 2019UK-wide initiative to facilitate ring carrier recycling. Hi-Cone became the first manufacturer globally to partner with TerraCycle for ring carrier recycling. Nearly 500 collection sites established including individuals and organizations.
• Ocean ConservancyminorStrategic or Co-development Partner · 1 November 2019Participation in International Coastal Cleanup and data collection efforts. Data collection provides empirical database about animal entanglement. Cleanups demonstrate ring carriers are not a significant cause of litter or animal entrapment issues.
• Ellen MacArthur Foundation - New Plastics Economy Global CommitmentcoreStrategic or Co-development Partner · 1 February 2019Signed New Plastics Economy Global Commitment in February 2019. Committed to circular economy goals including developing RingCycles with +50% PCR content and target of 100% recyclable, biodegradable or compostable solution by 2025.
• World Wildlife Fund (WWF)coreStrategic or Co-development PartnerCo-leader of U.S. Plastics Pact collaboration. WWF's ReSource: Plastic Footprint Tracker used to document annual progress against sustainability goals.
• The Recycling PartnershipcoreStrategic or Co-development PartnerCo-leader of U.S. Plastics Pact collaboration. National nonprofit organization engaging the full recycling supply chain from manufacturers to local governments to industry end markets.
• Franklin AssociatescoreTechnology or IntegrationLCA partner conducting Life Cycle Assessments for Hi-Cone products. Expert conduct of cradle-to-resin LCA comparing RingCycles to virgin plastic and competing solutions (shrink film, paperboard).
• Grupo ModelominorGTM or Marketing PartnerHi-Cone Mexico employees led families, friends and Grupo Modelo volunteers at Chapultepec Forest Clean-up in Mexico City. Part of Modelo's larger #voluntariosmodelo campaign.
• Junior Achievement ChicagominorOthersHi-Cone employees welcomed students from Addison Trail High School to learn about global business and different careers. Supports Junior Achievement's vision to inspire and prepare young people for the global economy.
• YouGovminorOthersInternational research data and analytics firm engaged to conduct consumer surveys for annual State of Plastic Recycling reports. Surveys cover US, Mexico, Spain, and UK markets.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Krones AG: Global beverage packaging machinery and complete line solutions provider. Adjacent peer operating upstream of Hi-Cone in the beverage packaging value chain, supplying filling, labeling, and packaging equipment to many of the same global beverage customers Hi-Cone serves.
• Crown Holdings: Global metal can manufacturer and packaging supplier with deep relationships with major beverage brands. Adjacent peer that serves many of the same customers as Hi-Cone (Heineken, Coca-Cola, etc.) for primary beverage containers, often paired with Hi-Cone's multi-pack carriers on the same SKU.
• Amcor plc: Global packaging giant with a broad flexible and rigid plastic packaging portfolio serving beverage, food, and consumer goods customers. Highly comparable as both a major packaging manufacturer and direct competitor to Hi-Cone in multi-pack and flexible packaging for the same global beverage brands.
• Ball Corporation: Global metal can and packaging manufacturer with extensive beverage customer relationships. Adjacent peer that supplies primary cans to many of the same beverage brands that Hi-Cone serves with multi-pack ring carriers, making them a complementary rather than directly competing supplier in the beverage packaging ecosystem.

Direct peers

• Berry Global (now part of Amcor): Major plastic packaging manufacturer with significant beverage and CPG exposure, including flexible packaging, containers, and engineered materials. Direct peer to Hi-Cone in plastic multi-pack and primary packaging for global beverage brands prior to the Amcor merger.
• Graphic Packaging: Paperboard packaging manufacturer with strong beverage multi-pack exposure (cartons, multipack carriers). Direct competitor to Hi-Cone in the paperboard alternative to plastic ring carriers, supplying several of the same global beverage customers.
• Smurfit Kappa: Global paperboard-based packaging leader whose products directly compete with Hi-Cone's ring carriers as the primary paperboard alternative for beverage multi-packs. Supplies Carlsberg and other brands that have moved away from plastic ring carriers.
• Sealed Air Corporation: Manufacturer of shrink film, protective packaging, and food packaging whose shrink-wrap products directly compete with Hi-Cone's ring carriers in beverage multi-pack applications. A competing multi-pack substrate technology serving the same beverage customers.

Others

• CCL Industries: Global specialty labels and packaging manufacturer serving consumer products including beverages. Adjacent peer whose labels and packaging components are often integrated with Hi-Cone's multi-pack carrier solutions on the same beverage products, making it a complementary ecosystem participant.

Emerging players

• Kwik Lok Corporation: Manufacturer of plastic closures, bag ties, and similar small-format plastic packaging products for food and produce. Closest direct comparable in terms of product format (small plastic ring/closure systems) to Hi-Cone's ring carrier business, though serving adjacent end markets (bakery, produce) rather than beverages.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/hi_cone
• LinkedInlinkedin.com/company/hi-cone

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hi-Cone