Atar Capital, a Los Angeles-based global private investment firm, completed the acquisition of Georgia based foodservice packaging manufacturer WinCup from funds managed by BlackRock, Inc., a global investment management firm.
The amount of the deal was not disclosed. Through this acquisition, Atar confirms the appointment of a new leadership team for WinCup with Brad Laporte serving as chief executive officer and Michael Winters as president and chief revenue officer.
The company intends to use the funds to expand its packaging solutions.
Based outside of Atlanta, Georgia, WinCup is a manufacturer of disposable foodservice dine-in and takeout to-go products, such as cups, bowls, containers, lids, straws and stirrers. The company offers two flagship products, Phade, a marine biodegradable, home and industrial compostable straw; and Vio, a biodegradable foam-based cups, lids and straws in the US and Canada. It has broad market access across all foodservice channels of distribution and is a producer for many strategic national brands.
WinCup employs nearly 1,000 people across eight manufacturing facilities and serves a blue-chip client base of distributors, restaurant chains and fast-moving consumer goods (FMCG) retailers that include Fortune 100 businesses with globally recognized brands.