Sabert Corporation, a leading global food packaging company, has entered into a definitive agreement to acquire LBP Manufacturing LLC. LBP is a leading producer of environmentally progressive and sustainable food and beverage packaging.
"Joining Sabert is a great opportunity for our customers and people," said Matt Cook, the Chief Executive Officer of LBP. "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."
LBP combines innovation in material science, equipment and converting technology to develop consumer-preferred, sustainable, paper-based foodservice packaging for its customers. The company is known for its hot beverage solutions, such as the original hot cup sleeve. LBP maintains a global operating footprint with manufacturing facilities in the U.S., Poland and China.
With the addition of LBP, Sabert's annual sales will exceed $900 million with approximately 3,000 employees globally.
"Sabert's success has always been based on our deep-rooted commitment to providing innovative and sustainable solutions to meet our customers' needs," said Albert Salama, Founder and Chief Executive Officer of Sabert. "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 organization. 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."
