US-based private equity firm Olympus Partners has acquired food packaging services provider Par-Pak, through its portfolio company the Waddington Group for an undisclosed amount.
Waddington, headquartered in Covington, Kentucky, is a manufacturer and marketer of upscale foodservice tableware.
Par-Pak is an independent thermoformer of foodservice, bakery and produce packaging. The company owns facilities and has significant sales in Canada, the US, and the UK.
The acquisition of Par-Pak enables Waddington to continue its growth and expand into new markets. The two companies together offer complementary products and will be able to bring an exciting breadth of products to its customers.
Olympus Partners stated that the acquisition will allow Waddington to better serve its customers through increased geographic and product diversity.
Par-Pak is the second acquisition Waddington has completed since being acquired by Olympus in October 2012. In November 2012, Waddington acquired Boulder, Colorado based Eco-Products, a supplier of environmentally friendly foodservice products in the US and Canada.
