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LOS ANGELES--(BUSINESS WIRE)--Atar Capital, a Los Angeles-based global private investment firm, announced today it has completed the acquisition of WinCup from funds managed by BlackRock, Inc., a global investment management firm. Headquartered in Georgia, WinCup employs nearly 1,000 people across eight manufacturing facilities that provide nationwide production and distribution of a comprehensive portfolio of traditional and biodegradable foodservice packaging products. The company is first to market with 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 in the US and Canada. WinCup serves an impressive blue-chip client base of distributors, restaurant chains and fast-moving consumer goods (FMCG) retailers that include Fortune 100 businesses with globally recognized brands. Financial terms of the agreement were not disclosed. This is Atar Capitals seventh platform acquisition since 2017. Commenting on this latest acquisition, Cyrus Nikou, founder and managing partner of Atar Capital, said, 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 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, added, 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 nations leading foodservice customers. In this context, we anticipate the next few years to be transformative for WinCup and the customers it serves. 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. 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, said Laporte. Nikou led the Atar investment team that also included Senior Managing Director Robert Lezec, Managing Directors Stanley Huang and Vijay Mony and Senior Associate Roman Zelinsky. Dykema provided legal counsel to Atar Capital and Ares Capital Corporation provided financing. Lincoln International was the sell-side investment bank. About WinCup Based outside of Atlanta, Georgia, WinCup is a leading manufacturer of disposable foodservice dine-in and takeout to-go products, such as cups, bowls, containers, lids, straws and stirrers. WinCup is the only US manufacturer of biodegradable foam cups through its Vio brand; and has recently launched Phade, the worlds first marine biodegradable, soil biodegradable, home and industrial compostable straw that looks and feels like a traditional straw. Phade recently won the Plastics Industry Association 2020 Innovation in Bioplastics Award. The company has broad market access across all foodservice channels of distribution and is a trusted producer for many strategic national brands. WinCup proudly operates eight manufacturing facilities across the US committed to delivering high-quality products and superior customer service. To learn more, please visit www.wincup.com. About Atar Capital Atar Capital is a global private investment firm that acquires a wide range of lower middle market businesses exhibiting opportunities for growth, revitalization and significant value creation. Atar Capitals principals have completed more than 75 private equity transactions across North America, Europe and South America. Atar Capitals combination of operational expertise, industry knowledge and investment experience provide a unique edge in creating value and working as a true partner with its portfolio companies. The firm assists in activities ranging from growing the business to improving operations and financial performance, leveraging all available resources and talent within Atars leadership team, as well as its bench of seasoned senior advisors with deep sector and functional expertise. For more information, please visit www.atarcapital.com.

Answer: Atar Capital Acquires Foodservice Packaging Manufacturer WinCup From Funds Managed by BlackRock Acquisition Marks Atars Foray into the Growing Category of Foodservice and Sustainable Packaging Solutions