(Nov 2012) Eco-Products is Acquired by Waddington North America


Boulder, CO, November 27, 2012 – Eco-Products, Inc. is delighted to announce that it has been acquired by Waddington North America ("Waddington")

Eco-Products is the leading brand of sustainable, single-use foodservice products in the United States and Canada, and is widely regarded as being at the forefront of innovation, expertise, and education in this fast growing sector. Eco-Products currently offers a wide range of environmentally friendly disposables produced with renewable, compostable, and post-consumer recycled materials. The company's products can be found in foodservice establishments throughout the U.S. and Canada, including those of restaurants, colleges, hospitals, stadiums, and corporate campuses. Eco-Products will remain dedicated to leading the industry with environmentally responsible foodservice solutions, and will continue to live by the credo, "Green is all we do™". As such, Eco-Products will operate as a separate division of Waddington.

Waddington is a holding company for a number of businesses serving the North American disposable food service marketplace. Most notably, Waddington owns WNA, the leading manufacturer and supplier of premium foodservice disposables, and Polar Plastic, the leading supplier of a broad range of foodservice products in Canada. Eco-Products will join WNA and Polar Plastic under the Waddington umbrella.

This is the first acquisition for Waddington since the company was acquired by Stamford, CT-based Olympus Partners in October 2012. Manu Bettegowda, a Partner of Olympus, remarked, "We remain focused on our strategy to drive growth in the foodservice disposables market organically and through acquisition of industry-leading companies. We are excited about the opportunity to work with the Eco-Products management team to build an even greater business and we remain committed to its core mission of environmentally friendly disposables."

Mike Evans, President and CEO of Waddington, commented, "I have long admired the Eco-Products business and its dedication to the green market. That focus and dedication will not change. I look forward to working with Eco-Products and its management team to continue the company's impressive growth and introduce an even broader range of environmentally friendly products, with an increasing focus on having such products made in the USA or Canada."

Mike Hastings, President of Eco-Products, also commented, "I have known Mike Evans and the team at Waddington for many years and am delighted to see Eco-Products become part of such a well-regarded company. Working with WNA and Polar will enable Eco-Products to grow even faster and be in an even better position to serve our customers in the future. The fit between the Eco-Products and the Waddington culture will be excellent."

Canaccord Genuity Inc. acted as exclusive financial advisor to Eco-Products in the transaction.

For more information about Waddington and its subsidiaries, please visit www.wna.biz, for more information about Eco-Products, please visit http://www.ecoproducts.com.