Butterfly: Investment Group Acquires Packaging Manufacturer Sabert

Los Angeles-based investment group Butterfly Equity is acquiring US packaging manufacturer Sabert Holding.
In a press release issued in late September, Butterfly announced that it had signed an agreement to this effect. The transaction is expected to close in the fourth quarter of this year, subject to the necessary regulatory approvals. No information has yet been disclosed regarding the financial value or further details of the deal.

Founded in 1983, Sabert is one of the world's leading manufacturers of packaging products for the food industry and retail sector, according to the latest press release. Its product portfolio includes trays, containers, cutlery, drinkware, platters and bowls made from PET, recycled PET (rPET), polypropylene (PP) and other plastics, as well as paper and molded fiber. The company is headquartered in Sayreville, New Jersey, and operates a total of nine manufacturing facilities in the US, along with additional production sites in the UK, Belgium, Poland and China.

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Butterfly CEO Adam Waglay commented: "Sabert is exactly the kind of company we look for at Butterfly: an industry leader with deep roots across the entire food ecosystem, unique capabilities and tremendous opportunities for further growth. As consumers increasingly prioritize convenience and flexibility in how and where they eat, packaging plays a crucial role in enabling the food industry to meet these needs."

According to the latest announcement, Sabert's founder and current CEO, Albert Salama, is expected to retain a minority stake in the company.

More information: www.bfly.com, sabert.com

Butterfly Equity, Los Angeles, California, USA