Hoffmaster Group has acquired paper straw manufacturer Aardvark Straws, the sole US producer of paper straws, from Precision Products Group for an undisclosed sum.
Hoffmaster will acquire the operating rights to the Aardvark brand and a paper straw manufacturing facility in Fort Wayne, Indiana as a result of the deal. The facility includes a production line capable of producing customisable paper straws for clients.
The company claims that the acquisition will provide Aardvark with additional production resources, allowing the brand to meet the increased demand for paper straws as consumers and businesses turn away from plastic straws due to their perceived environmental impact.
Aardvark’s range of paper straws are compostable and naturally degradable, and are FDA/EU compliant.
Andy Romjue, president of Hoffmaster’s Foodservice Division said: “This is an important acquisition for Hoffmaster as Aardvark straws are a natural extension of our premium portfolio and complement our line of environmentally responsible products.
“In the coming months, we will aggressively ramp up Aardvark’s manufacturing capacity to meet the rapidly accelerating demand for paper straws while conducting a full review of the business needs to optimally fold it into the current Hoffmaster infrastructure.
“We are committed to being a reliable supply source for paper drinking straws in the foodservice market.”
Dave Hooe, CEO and president of Precision Products Group added: “We’re optimistic about everything that Hoffmaster will accomplish with the acquisition of Aardvark.
“Their knowledge of the foodservice market paired with their resources will aid the company in providing billions of quality paper straws to restaurants
and businesses looking to implement necessary changes to protect our environment.
“We’re proud of how far Aardvark has come and look forward to continued success with Hoffmaster.”
Many major companies in the food and beverage industry have pledged to eliminate the use of plastic straws over the last year, as they adapt to changing consumer expectations and legislative change.
The European Union claimed in March that it was considering banning the use of plastic straws in member states in the future, and companies such as McDonald’s, Diageo and Pernod Ricard have pledged to phase out the use of plastic straws.
© FoodBev Media Ltd 2018
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