Emerald Lake Capital Management has sold Inno-Pak, a US-based manufacturer of sustainable food packaging, to Wynnchurch Capital’s portfolio company Handgards. 

Headquartered in Ohio, Inno-Pak specializes in eco-friendly packaging for prepared and takeout foods, holding over 170 design and utility patents. Its patented products include nested paper takeout containers, soup cups with transparent lids, laminated bag systems for rotisserie chickens, and multi-substrate deli cartons.

Since Emerald Lake’s investment in 2020, Inno-Pak has expanded significantly, more than doubling its patent portfolio and strengthening its manufacturing and distribution operations. The company opened its first large-scale domestic production facility in Ohio in 2023, along with an expanded distribution center.

Emerald Lake’s managing partner, Dan Lukas, highlighted the company’s ability to meet growing demand for sustainable packaging as consumer preferences shift toward prepared foods from supermarkets and app-based delivery services. “We have been continually impressed by Inno-Pak’s differentiated ability to work across multiple substrates and product types to meet the full spectrum of prepared food packaging needs,” he said.

Under Emerald Lake’s ownership, Inno-Pak completed two key acquisitions: Stalk Market and Finishing Services in 2022, followed by Albany Packaging in 2023.

Inno-Pak CEO Chris Sanzone noted the company’s rapid expansion across products, manufacturing, and team capabilities. “We are grateful for our partnership with the Emerald Lake team, who share our growth ambitions, culture of innovation, and focus on remaining adaptable to meet the needs of our customers,” he said.

The acquisition by Handgards marks a strategic move to enhance its portfolio with Inno-Pak’s established expertise in sustainable food packaging solutions.