The Bottom Line: NewSpring Invests in WePackItAll
July 07, 2022
NewSpring, a family of private equity strategies, announced today that NewSpring Mezzanine, the Firm’s dedicated mezzanine strategy, has invested subordinated debt and equity to support Akoya Capital’s acquisition of WePackItAll.
WePackItAll is a leading contract packaging services supplier
WePackItAll serves as a one-stop-shop supplier of contract packaging, filling, fulfillment, and warehousing services to major food, nutraceutical, and beverage brands. The company’s main product categories include dietary supplements in powder, gummy, and cap forms, energy drinks, stick packs, powder bottles, and probiotics. WePackItAll’s operations are FDA and NSF-GMP registered, and OTC licensed for food and dietary supplement handling.
WePackItAll’s differentiated service offering leads to strong customer retention
WePackItAll has the ability to solve complex packaging challenges for customers and provide production flexibility to help its customers respond to today’s markets – two characteristics that separate its offering from competitors. Combined with its high level of quality and service, these advantages have allowed the company to build close, lasting relationships with its blue-chip customers.
“Our customers have come to rely on our ability to provide unique, individualized packaging solutions that enable them to sell more products and grow their business. By focusing on providing the most value possible to clients while continuing to expand our service offerings, we’ve been fortunate to work with a constantly growing set of food, nutraceutical, and beverage companies bringing game-changing products to market. We’re thrilled to partner with NewSpring and Akoya Capital as we seek new levels of growth.”
WePackItAll operates in a fast-growing, highly fragmented market
The global supplements and nutrition packaging market is large and growing fast. The majority of the industry is highly fragmented and consists mostly of smaller, family-owned businesses, creating significant opportunities for M&A down the line. The potential for increased FDA regulation in the coming years could also create a strong barrier to entry, further elevating WePackItAll’s growth potential.
The company is led by an experienced and aligned management team
Since joining the company, WePackItAll President Natan Bershtel has focused on growing the business by improving customer satisfaction and making operational enhancements. Cedric Shaw, an industry veteran with more than 30 years of experience in industrial products and packaging, will be joining as Chairman to offer additional strategic guidance.
“For over 45 years, WePackItAll has built close relationships with its customers and continually evolved its service offerings to best meet the needs of the market. Operating in the large and fast-growing supplements and nutrition packaging market, we see a long runway for this business to continue to grow and look forward to working with Natan and the rest of the management team to bring the company to new heights.”