Atar Capital buys WinCup

Atar Capital, a Los Angeles-based global private investment firm, has completed the acquisition of Atlanta-based WinCup from funds managed by BlackRock Inc., a global investment management firm. WinCup employs nearly 1,000 people across eight manufacturing facilities that provide nationwide production and distribution of a portfolio of traditional and biodegradable foodservice packaging products. The company has two flagship products: Phade, an award-winning marine biodegradable, home and industrial compostable straw, and Vio, the only biodegradable foam-based cups, lids and straws available in the U.S. and Canada. Financial terms of the agreement were not disclosed.

Cyrus Nikou, founder and managing partner of Atar Capital, says, “While the COVID-19 pandemic created significant barriers to the timely completion of many M&A transactions around the world, the Atar team successfully circumnavigated these challenges to complete the acquisition of a company of such an exceptional caliber as WinCup. We are particularly excited about the opportunity this presents to drive major evolutions in foodservice packaging given the profound changes affecting the FMCG (fast-moving consumer goods) 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.”

Robert Lezec, senior managing director at Atar, says, “Today there is an accelerating expectation for eco-friendly packaging solutions, whether in foodservice or in other segments. WinCup has been working diligently to remain at the forefront with a growing portfolio of unique and innovative products and a scalable production footprint that provides proximity to many of the nation’s leading foodservice customers. In this context, we anticipate the next few years to be transformative for WinCup and the customers it serves.”

Atar has appointed a new leadership team for WinCup, with Brad Laporte serving as chief executive officer and Michael Winters as president and chief revenue officer.

“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,” Laporte says.

WinCup is a leading manufacturer of disposable foodservice dine-in and takeout to-go products, such as cups, bowls, containers, lids, straws and stirrers. The company’s Phade staw recently won the Plastics Industry Association 2020 Innovation in Bioplastics Award.