According to foreign media reports, Hoffmaster Group has acquired paper straw manufacturer Aardvark Straws from Precision Products Group, which is the only company producing paper straws in the United States.
As a result of the acquisition, Hoffmaster will gain the rights to operate the Aardvark brand and a paper straw manufacturing facility in Fort Wayne, Indiana. The facility has a production line capable of producing customizable paper straws for customers.
The company claims the acquisition will provide Aardvark with additional production resources, so the brand can meet the growing demand for paper straws as consumers and businesses move away from plastic straws that have an impact on the environment.
Aardvark's range of paper straws can be used as fertilizer, are naturally degradable, and are FDA/EU (Food and Drug Administration/European Union) compliant.
"This is an important acquisition for Hoffmaster as Aardvark straws are an extension of our premium products, adding to our range of eco-friendly products," said Andy Romjue, president of Hoffmaster's Food and Beverage Division.
"Over the next few months, we will aggressively increase Aardvark's production capacity to meet the rapidly growing demand for paper straws, while conducting a comprehensive review of the business needs to best integrate it into the current Hoffmaster infrastructure."
"We are committed to being a reliable source of paper straws for the foodservice market."
Dave Hooe, president of Precision Products Group, added: "We are very bullish on Hoffmaster's acquisition of Aardvark. Their knowledge of the foodservice market combined with their resources will help the company deliver billions of dollars' worth of premium quality food to restaurants and businesses. Paper straws, hopefully implementing these necessary changes to protect our environment."
"We are proud of the addition of Aardvark and look forward to continuing success with Hoffmaster."
Many of the biggest companies in the food and beverage industry have pledged to eliminate plastic straws over the past year as they adjust to consumer expectations and changes in legislation.