USA – Sabert Corporation, a global food packaging firm has secured a deal to acquire LBP Manufacturing LLC (LBP), a Chicago-based producer of sustainable food and beverage packaging.
Widely known for its hot beverage solutions, LBP combines innovation in material science, equipment and converting technology to develop consumer-preferred, sustainable, paper-based foodservice packaging.
LBP supplies packaging firm solutions include the Coffee Clutch hot cup sleeve and Beverage on the Move insulated beverage to-go carrier in addition to a variety of unique catering trays, folding cartons, clamshells and other containers.
The acquisition is expected to boost Sabert position in the food packaging industry by expanding its sales network and global presence. LBP Manufacturing has manufacturing facilities in the US, Poland and China.
Albert Salama, founder and CEO of Sabert said: “Sabert’s success has always been based on our deep-rooted commitment to providing innovative and sustainable solutions to meet our customers’ needs.
“LBP’s customer-centric culture and superior track record of developing performance-driven products that respond to their customers’ needs makes them a great fit to join our organisation.
“As a leader in paper-based packaging, LBP’s strong position in the Quick Service Restaurant channel combined with Sabert’s sales network and global presence will allow the new organization to deliver tremendous value to the market, enabling us to achieve our vision of being the most admired company in our industry.”
Matt Cook, CEO of LBP added: “Joining Sabert is a great opportunity for our customers and people.
“Both companies have a long-standing history of combining innovation, sustainability and customer-centric product development to provide high quality solutions that meet the evolving needs of our customers.
“We look forward to working with the Sabert team in building an even more comprehensive packaging company with a shared mission of enhancing the way people enjoy food and beverages.”
Subject to customary closing conditions and regulatory approvals, the transaction is expected to complete in early December 2019. Financial details of the deal were not disclosed.
Headquartered in Sayreville, New Jersey, Sabert operates North American facilities in New Jersey, California, Indiana, Kentucky as well as manufacturing facilities in Nivelles, Belgium and Zhongshan, China. The company is also investing on a new plant in Texas scheduled for opening in 2020.
