The only US producer of paper straws, Aardvark Straws, was acquired by manufacturer Hoffmaster Group on Monday.
As cities and companies start leaning away from plastic straws, the demand for paper straws has skyrocketed. Aardvark was not able to produce the demanded amount of straws under their previous financial structure, so they decided to sell the company to Hoffmaster, who will better be able to meet demand targets.
Hoffmaster food division president Andy Romjue explains, “In the coming months, we will aggressively ramp up Aardvark’s manufacturing capacity to meet the rapidly accelerating demand for paper straws. We are committed to being a reliable supply source for paper drinking straws in the foodservice market.”
Aarvard was first founded in 2007 and has grown steadily ever since, but this year, the company experienced a 5,000 percent increase (!!!) in growth. Precision Products, the previous parent company of Aardvark, is also on board with the new ownership. CEO David Hooe explains,
[Their] knowledge of the foodservice market paired with their resources will aid the company in providing billions of quality paper straws to restaurants and businesses looking to implement necessary changes to protect our environment. We’re proud of how far Aardvark has come and look forward to continued success with Hoffmaster.
As more companies adopt a no-plastic policy, Aardvark will continue to grow. If Hoffmaster can help Aardvark meet demand, then the company will be very successful.
Featured image via Flickr/Marco Verch