Olympus Steps into the Future of Packaging
3 November 2020
Olympus Partners has led a growth equity investment round in Footprint International Holdco, Inc. ("Footprint"), a leading material sciences company focused on sustainable, plant-based packaging solutions serving the world's largest packaged food producers and other customers in the grocery and QSR channels. Based in Gilbert, Arizona, Footprint's patented technologies are unique in the marketplace and position Footprint to capitalize on growing demand for competitively-priced, environmentally friendly packaging alternatives.
"As a long-time investor in the packaging space we have seen firsthand the rapid shift in demand for sustainable packaging solutions. Footprint has developed innovative technologies that meet the need for functional, sustainable packaging solutions that maintain their structural integrity and performance as goods move throughout the supply chain. We are thrilled to partner with Co-Founders Troy Swope and Yoke Chung and the rest of the Footprint team as they continue to build manufacturing capacity to meet the demands of their customers," said Manu Bettegowda, a partner at Olympus. "We are very excited to work with Olympus as a partner in our vision of transforming the supermarket. Olympus Partners provides the capital for Footprint to expand our operations both in North America and Europe, so we can meet the growing demand of our global customers who are switching to plant-based packaging. Together we are eliminating single-use plastic which are not recyclable," said Troy Swope, CEO of Footprint.
The Olympus team included Manu Bettegowda, Sam Greenberg and Tyler Thompson.
ABOUT OLYMPUS PARTNERS
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for growing companies. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.