Handgards Acquires Inno-Pak, Expanding Foodservice Solutions and Strengthening Market Position
Handgards, LLC a recognized leader in the foodservice industry specializing in disposable gloves, reclosable bags, tabletop items, expendables, and carryout products, has announced its acquisition of Inno-Pak, LLC (“Inno-Pak” or “the Company”). The acquisition is expected to significantly strengthen Handgards’ product offerings, expand its reach across key market segments, and accelerate growth opportunities within the foodservice sector. This deal is backed by Wynnchurch Capital, L.P. (“Wynnchurch”), the investment firm behind Handgards, and is seen as a strategic step in broadening Handgards’ capabilities while leveraging the strengths of Inno-Pak in sustainable food packaging solutions.
A Strategic Acquisition with Growth Potential
Founded in 1992 and headquartered in Delaware, Ohio, Inno-Pak has built a strong reputation as an industry leader in North America for innovative, sustainable, and high-quality food packaging solutions. Serving a diverse range of industries, including foodservice, grocery, convenience stores, and hospitality, Inno-Pak brings with it a vast portfolio of more than 170 patents across multiple product substrates. The company’s deep expertise in sustainable packaging solutions aligns with Handgards’ long-term commitment to meeting evolving consumer demands, making this acquisition a strategic move to bolster Handgards’ market position.
Joe Kubicek, CEO of Handgards, expressed his enthusiasm about the deal, stating, “We could not be more excited to welcome Inno-Pak into the Handgards family. This transformational add-on bolsters our offering of innovative, sustainable solutions and demonstrates our commitment to providing our customers with an extensive portfolio of the highest quality products, best-in-class service, and leading technical capabilities.” Kubicek further emphasized that the acquisition will allow Handgards to enhance its product line, offering a wider range of sustainable foodservice solutions that cater to an increasingly eco-conscious consumer base.
Expanding Market Presence and Addressing Consumer Trends
Greg Gleason, Managing Partner of Wynnchurch, echoed Kubicek’s sentiments, highlighting the strategic importance of this acquisition in unlocking growth opportunities within key foodservice markets. He stated, “Inno-Pak represents an opportunity to grow in key foodservice end markets, including grocery and convenience stores, and allows the platform to further capitalize on positive trends around substrate flexibility, consumer convenience, health and hygiene, and on-the-go consumption. We look forward to our continued partnership with Handgards and Inno-Pak as they continue their growth journey.”
The acquisition comes at a time when the food packaging industry is witnessing rapid transformation, driven by increasing demand for sustainable materials, enhanced hygiene solutions, and consumer-friendly packaging innovations. Inno-Pak’s strengths in substrate innovation and sustainable packaging complement Handgards’ existing offerings, positioning the combined entity for accelerated growth across multiple segments.
Carl Howe, Managing Director at Wynnchurch, reinforced the firm’s investment thesis, adding, “We’re thrilled to add Inno-Pak to the Handgards platform. In line with our original investment thesis, the acquisition of Inno-Pak adds differentiated converting and sourcing capabilities while further diversifying the consolidated platform into attractive end markets. We look forward to working with management to continue expanding the platform.”
A Stronger, More Diversified Platform
With this acquisition, Handgards now stands as a more diversified foodservice solutions provider, capable of addressing a wider range of customer needs while capitalizing on market trends. The combination of Handgards’ established distribution network and Inno-Pak’s expertise in innovative packaging solutions is expected to create a robust growth platform. This move aligns with broader industry trends that emphasize convenience, sustainability, and health-conscious packaging solutions.
Inno-Pak’s patented product designs and its commitment to sustainable packaging provide Handgards with a competitive advantage in an industry where eco-friendly solutions are gaining increased traction. By integrating Inno-Pak’s research and development capabilities into its operations, Handgards will be well-positioned to drive further innovations in foodservice packaging, ensuring that it remains at the forefront of the industry’s evolution.
Financial and Legal Advisors
To facilitate this transaction, Handgards and Wynnchurch relied on the expertise of Goldman Sachs & Co. LLC, which acted as the financial advisor. Legal advisory services were provided by Foley & Lardner LLP, ensuring a smooth transition and integration process for both companies. Meanwhile, Inno-Pak, previously a portfolio company of Emerald Lake Capital Management, brings a legacy of strong financial performance and a well-established customer base to the new partnership.
The Impact on Customers and the Foodservice Industry
For Handgards’ existing customers, this acquisition represents a significant expansion in available product offerings. Inno-Pak’s cutting-edge packaging solutions will enable Handgards to meet growing consumer demand for sustainable and innovative foodservice products. Additionally, the integration of Inno-Pak’s proprietary technologies will enhance product functionality, allowing for improvements in food safety, preservation, and convenience.
The foodservice industry has been undergoing significant changes in recent years, with the rise of takeout and delivery services driving demand for more efficient, sustainable, and consumer-friendly packaging solutions. The COVID-19 pandemic accelerated many of these trends, leading to a heightened focus on hygiene, safety, and environmental responsibility. As a result, businesses across the foodservice supply chain are seeking new solutions that balance functionality, sustainability, and cost-effectiveness.
By joining forces, Handgards and Inno-Pak are poised to become a go-to provider for food packaging solutions that align with these evolving industry needs. The acquisition ensures that both companies’ customers can access a broader portfolio of high-quality, sustainable, and innovative products.
A Look at Future Growth and Industry Trends
Handgards and Inno-Pak are expected to leverage their combined strengths to expand their reach across North America. The companies will continue to invest in product development, supply chain enhancements, and sustainable packaging initiatives, ensuring that they remain well-positioned to meet future industry challenges.
One of the key areas of growth for the combined entity is the continued push toward sustainability. Governments, businesses, and consumers alike are placing greater emphasis on environmentally responsible packaging solutions, driving demand for compostable, recyclable, and biodegradable materials. With Inno-Pak’s expertise in sustainable packaging, Handgards can accelerate its efforts to offer eco-friendly alternatives without compromising on quality or durability.
Additionally, the acquisition enhances Handgards’ ability to serve a broader range of industries, from traditional foodservice businesses to emerging sectors such as meal kit delivery, quick-service restaurants, and grocery e-commerce. As these industries continue to evolve, having a diverse and innovative packaging portfolio will be crucial for staying competitive.
