Quad-C Invests In Catapult Print and Packaging Quad-C Management, a middle market private eq- uity firm, has closed on an investment in Catapult Print and Packaging, a printer and converter of lin- erless and pressure sensitive labels. Founded in 2018 and based in Orlando, Florida, Catapult provides specialty labels primarily serving the food and beverage, industrial and consumer end-markets. Family Owned A family-owned business since its 2018 inception, Catapult is led by CEO, Mark Cook, President, Lew- is Cook, and Chief Marketing Officer, Ashley Cook, all of whom will continue in that capacity. Deloitte Corporate Finance served as financial advisor to Catapult on the transaction and Gibson Dunn & Crutcher served as legal counsel to Quad-C. Terms of the investment were not disclosed. Chipotle Searches For More U.S.-Made Packaging Chipotle Mexican Grill is having “early stage” dis- cussions with U.S.-based packaging suppliers to
decrease its dependence on Asian companies be- cause of rising freight costs and ongoing supply chain issues. Chipotle CFO Jack Hartung said the chain might even put money behind a domestic packaging ven- dor to help build capacity in the United States. The news was first reported in Bloomberg, but Restau- rant Business confirmed the chain’s statements via a Chipotle spokeswoman. Recently, Hartung told investors that he hoped Chipotle was reaching an “inflection point” in pack- aging and other costs — but that he didn’t expect that to happen anytime soon. For the quarter ended March 31, Chipotle’s food, beverage and packaging costs were 31 percent of total sales, an increase of 100 basis points from the same period in 2021. Margins have been an ongoing pain for Chipotle, even as its sales have soared during the pandemic. Packaging continues to be central to Chipotle’s operations, with 42 percent of sales coming in through digital channels during the first quarter. The supply chain has been a source of much frus- tration for restaurants during the pandemic, causing ongoing shortages of packaging, equipment and a wide variety of food items.
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