Plastic straws are out. These companies are cashing in

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Demand for paper straws is “off the charts.”

That is based on David Rhodes, the worldwide enterprise director for Aardvark, the one paper straw maker within the US. He ought to know.

Aardvark was acquired yesterday by Hoffmaster Group, a maker of premium disposable tableware. Monetary phrases weren’t disclosed.

The straw maker, which grew gross sales by 5000% final 12 months, had been struggling to maintain up with demand for the reason that tide turned in opposition to plastic consuming straws. Hoffmaster will deliver welcome sources.

“Within the coming months, we’ll aggressively ramp up Aardvark’s manufacturing capability to fulfill the quickly accelerating demand for paper straws,” the corporate mentioned in an announcement.

Demand has elevated due to an environmental motion to remove single use plastics. It is estimated that there will probably be extra plastic than fish within the oceans by 2050.

Main corporations together with Starbucks, Disney and McDonald’s are within the means of limiting or ditching plastic straws, whereas US cities like Seattle and complete international locations are transferring to ban them.

However the inflow of demand was an excessive amount of for Aardvark to deal with and orders have been delayed as a lot as 12 weeks due to the backlog.

“There’s not simply paper straw making machines laying round,” he mentioned.

The acquisition will assist the corporate construct extra machines, ramp up sources and develop its backside line.

Nevertheless it’s not simply Aardvark benefiting from the growth.

Associated: After plastic straws, this entrepreneur needs plastic toothbrushes to vanish

Strawsome, a Detroit-based glass straw maker, instructed CNN its enterprise has completed as a lot gross sales within the first quarter of 2018 as the complete 12 months of 2015.

Founder Daedra Surowiec mentioned she did not assume her enterprise would change into as widespread because it just lately has.

“One can dream and you’re employed exhausting to make a begin up profitable however you simply by no means know what change the world goes to see that is going to align together with your product,” she mentioned.

CNNMoney (New York) First printed August 7, 2018: 2:34 PM ET

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