US-based food packaging provider Inno-Pak has acquired compostable packaging manufacturer Stalk Market for an undisclosed sum.
Stalk Market supplies compostable plant-based containers, trays, plates and bowls, as well as hot, cold and portion cups, cutlery and straws among other products.
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All the company’s products are certified by global testing labs, including BPI, Din Certo and Ok Compost.
The acquisition is intended to expand Inno-Pak’s sustainability offerings in North, Central and South America and meet growing demand for green packaging.
In a statement, the company said it was ‘now uniquely situated to remain leaders in an environment that prioritises responsiveness, responsibility and customer relationships’.
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Inno-Pak CEO Jon Sill said: “The acquisition of Stalk Market adds an exciting, comprehensive array of new eco-friendly products for our customers.
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By GlobalData“Expanding our compostable product offering reinforces the commitment we have made to be the market leader in providing innovative, cost-effective, sustainable packaging solutions to the supermarket, C-store and food service industries.”
Inno-Pak chairman Chris Sanzone said: “We are excited about the acquisition of Stalk Market. This enhances our overall innovative product offering.
“We are aggressively looking for complementary acquisitions in the sustainable space.”
Following the acquisition, Inno-Pak will continue to offer solutions for the foodservice, grocery and convenience markets in addition to its full lines of food packaging, which include cutlery, plates and other products.
The company’s Compostable INNOBOX EDGE, a paperboard takeaway carton, is certified as compostable by the Biodegradable Products Institute.
Stalk Market founder Bret Chandler said: “We have always believed that it is the staff that makes for a great company.
“We could see Inno-Pak shares the same values as Stalk in its commitment to its customers and quality line of products.”
Chandler added that Stalk Market’s current customers will have access to “an ever better selection of innovative products that are environmentally responsible via composting or recycling”.
