InnoPack Announces New Ownership
Vol. 803
March 31, 2011
Orange, CA-based supplier InnoPack USA (asi/62656) has been
sold in a private transaction completed earlier this month, the company has
announced. Per the deal, the current sales, customer service and management
teams will remain the same, with the staff supplemented by the addition of new CEO
and majority owner David Ealy. "It will be business as usual for our
company," says Sara Galbiati, InnoPack's vice president of sales and
marketing. "Our prior owner retired and a new partner has been brought
in."
According to Galbiati, the move by InnoPack founder and now
former owner Edward McCrink to retire was expected. The deal makes Ealy the new
majority owner and present InnoPack executive Jon Johnston a minority owner, in
addition to his standing position as vice president of operations. Ealy, who
has ties to the ad specialty industry, has extensive experience in start-up
firms, having recently built a brand-new company into a multi-million dollar
entity in less than two years, according to an InnoPack statement.
Established in 2004, InnoPack specializes in health and
beauty products, while also producing a line of pens. The company employs 10-15
people, depending on the time of year, and generates annual revenues of less
than $1 million, according to Galbiati. "Our sales are up year-to-date and
we're looking forward to putting into place an expansion program," she
says. "We're growing."
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