M&A Deal Summary

Handgards Acquires Inno-Pak

On February 12, 2025, Handgards acquired packaging company Inno-Pak from Emerald Lake Capital Management

Acquisition Highlights
  • This is Handgards’ 1st transaction in the Packaging sector.
  • This is Handgards’ 3rd transaction in the United States.
  • This is Handgards’ 1st transaction in Ohio.

M&A Deal Summary

Date 2025-02-12
Target Inno-Pak
Sector Packaging
Buyer(s) Handgards
Sellers(s) Emerald Lake Capital Management
Deal Type Add-on Acquisition

Target

Inno-Pak

Delaware, Ohio, United States
Inno-Pak provides food packaging for the food service, grocery, convenience store, and hospitality industries. Inno-Pak has a broad range of more than 100 patented products across multiple substrates, supported by robust manufacturing capabilities which include sheeting/printing, die cutting, windowing, gluing, and forming and design services. Inno-Pak was founded in 1992 and is based in Delaware, Ohio.

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Buyer(S) 1

Buyer

Handgards

El Paso, Texas, United States

Category Company
Founded 1959
Sector Consumer Products
DESCRIPTION

Handgards manufactures and supplies high-quality food service disposable products, including gloves, bags, protective apparel, and flexible packaging. Handgards’ products are sold throughout North America to an extensive base of broad-line distributors, group purchasing organizations (“GPOs”), and national foodservice accounts. Handgards was founded in 1959 and is based in El Paso, Texas.


DEAL STATS #
Overall 3 of 4
Sector: Packaging M&A 1 of 2
Type: Add-on Acquisition M&A Deals 3 of 4
State: Ohio M&A 1 of 1
Country: United States M&A 3 of 4
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-18 EMI Yoshi

North Brunswick, New Jersey, United States

EMI Yoshi supplies a comprehensive suite of products to a diverse base of catering and hospitality customers across the U.S. EMI Yoshi is based in North Brunswick, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-25 Albany Packaging USA

Deerfield Beach, Florida, United States

Albany Packaging USA is a distributor of foodservice packaging, primarily paper folding cartons, sold to supermarkets, bakeries, restaurants, and convenience stores. Albany Packaging USA is based in Deerfield Beach, Florida.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Emerald Lake Capital Management is a private equity firm focused on businesses with growth potential. The Firm invests in a variety of industries including consumer products, business services, distribution, and manufacturing, and supports a range of investment situations. Emerald Lake Capital was founded in 2018 and is headquartered in Los Angeles, California.


DEAL STATS #
Overall 1 of 2
Sector: Packaging M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 2
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-10 Johnson Thermal Systems

Caldwell, Idaho, United States

Johnson Thermal Systems designs and manufactures custom-engineered power packaging and industrial cooling solutions worldwide. The company offers custom-engineered cooling and power packaging solutions, not just products out of a catalog. Johnson Thermal Systems was formed in 2004 and is based in Caldwell, Idaho.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-08 US Salt

Watkins Glen, New York, United States

US Salt is a salt-production and distribution company that produces a wide range of evaporated salt products for food, industrial, pharmaceutical, textile, water-treatment, and other applications. US Salt is based in Watkins Glen, New York.

Sell $908M