MIDDLEBURY — A private investor has purchased Bee’s Wrap, a Middlebury maker of food storage wrappings.
The company did not disclose the purchase price or the name the buyer, but did say the purchaser was based in Vermont.
The transaction closed Feb. 4.
Founded in 2012 in Sarah Kaeck’s New Haven basement, Bee’s Wrap has been very successful in developing and marketing a versatile and durable warp made of cloth and covered in bee’s wax. After a move to a bigger production space in Bristol, the company moved to the former Sear’s space on Exchange Street in Middlebury two years ago, and last year expanded into a new 6,900-square-foot building that was constructed next door.
The Addison County Chamber of Commerce named Bee’s Wrap the 2019 Business of the Year. The award recognizes businesses that have grown, while providing excellent products or services while doing well by their employees and the community.
The buyer has significant experience partnering with niche consumer products businesses and is well positioned to continue expanding through established channels and capitalize on Bee’s Wrap’s first mover advantage, according to a press release.
Kaeck was not available to answer questions but said in a press release that the buyer is well positioned to help the company to continue its growth.
“The acquisition of our company brings resources that will even further grow the national and international recognition of our unique solution to the problem of single use plastics,” she said in the release.
She also credited Boston-based G2 Capital Advisors, which served as the exclusive financial advisor to Bee’s Wrap on the sale:
“In facilitating this acquisition, G2 made it possible for us to find a partner that would scale the company while also firmly upholding our mission, values, and vision for Bee’s Wrap. As a value-based company it was essential for us to find the perfect partner and G2 made this happen. They were a pleasure to work with during this process, providing valuable support and expertise.”