WinCup offers disposable foodservice dine-in and takeout to-go products such as cups, bowls, containers, lids, straws and stirrers
Atar Capital has acquired foodservice packaging products provider WinCup. (Credit: Tumisu from Pixabay)
Private investment firm Atar Capital has acquired foodservice packaging manufacturer WinCup from funds managed by BlackRock for an undisclosed sum.
Based in Atlanta of Georgia, WinCup is engaged in the manufacturing of disposable foodservice dine-in and takeout to-go products such as cups, bowls, containers, lids, straws and stirrers.
The company offers biodegradable foam-based cups, lids and straws through Vio brand for the customers in the US and Canada.
WinCup’s Phade is marine biodegradable, soil biodegradable, home and industrial compostable straw
The company offers Phade, which is claimed to be the world’s first marine biodegradable, soil biodegradable, home and industrial compostable straw.
The company has used Danimer Scientific’s Nodax polyhydroxyalkanoate (PHA) to produce a new line of straws.
WinCup supplies its products to distributors, restaurant chains and fast-moving consumer goods (FMCG) retailers.
With around 1,000 employees, the company manages eight manufacturing facilities across the US.
Atar Capital founder and managing partner Cyrus Nikou said: “We are particularly excited about the opportunity this presents to drive major evolutions in foodservice packaging given the profound changes affecting the FMCG industry.
“WinCup has a clear head start in responding to these ongoing changes. We look forward to supporting the company as it continues to expand into new brands and categories.”
Atar has selected Brad Laporte as CEO for WinCup, and Michael Winters as president and chief revenue officer for the company.
In a statement, Laporte said: “With the support and direction to be gained from working with Atar Capital, we look forward to leading this evolving market with an even broader range of safe, sustainable packaging solutions.”