Olympus Partners has acquired Waddington North America. Financial terms were not announced. Waddington produces rigid plastic foodservice disposables for the catering, institutional, retail, restaurant and food processing sectors. The Olympus team included Manu Bettegowda, Mike Horgan, Pete Tedesco, Griffin Barstis and Taylor Rhyne.
Stamford, Connecticut-based Olympus Partners has acquired Waddington North America, Inc. (“WNA”), the leading North American designer, manufacturer and marketer of premium, rigid plastic foodservice disposables. Well known for its product innovation, WNA produces a broad portfolio of tableware, drinkware, servingware and metalized cutlery products targeting the premium, specialty and everyday segments. Over nearly four decades, WNA has built longstanding relationships with a diverse customer base spanning the catering, institutional, retail, restaurant and food processing sectors. WNA maintains operations in both the United States and in Canada.
Olympus has a long history of investing in successful consumer businesses, including investments in Ann’s House of Nuts, Plaze and Homax Products.
Manu Bettegowda of Olympus Partners commented, “We are excited to be partnering with Mike Evans, Mike Christopher and the rest of the highly experienced management team at WNA who have a long track record of innovation and superior operating results, and we look forward to working with the team to leverage WNA as a platform for growth and innovation.”
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including restaurants, consumer products, healthcare services, financial services and business services.
Olympus manages in excess of $3 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. The investment in WNA is Olympus’ ninth investment out of its $1.5 billion fifth fund.
The Olympus team included Manu Bettegowda, Mike Horgan, Pete Tedesco, Griffin Barstis and Taylor Rhyne. Olympus was represented by John Schoenfeld and Rob Kiburz from Kirkland & Ellis.