Food packaging company Sabert Corporation has agreed to acquire LBP Manufacturing LLC (LBP), a manufacturer of sustainable food and beverage packaging, to boost its sales and presence in the market.
The acquisition plans to combine LBP’s strong position in the foodservice market with Sabert’s sales network and global presence.
Financial details of the deal were not disclosed.
Chicago-based LBP is a producer of sustainable, paper-based foodservice packaging, widely known for its hot beverage solutions, catering trays, and folding cartons. The company 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.
“Joining Sabert is a great opportunity for our customers and people,” said Matt Cook, CEO of LBP.
Cook added: “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.”
The transaction is expected to complete in early December 2019, subject to customary closing conditions.
© FoodBev Media Ltd 2020