CHICAGO, Dec. 18, 2019 /CNW/ -- Mesirow Financial acted as the exclusive financial advisor to Sabert Corporation ("Sabert" or the "Company") on its acquisition of LBP Manufacturing LLC. ("LBP"), a leading U.S. provider of environmentally progressive and sustainable food and beverage packaging.
Headquartered in Sayreville, New Jersey, Sabert Corporation is a leading global manufacturer of innovative food packaging products and solutions. The Company designs, manufactures and distributes a wide spectrum of foodservice packaging solutions, serving foodservice distributors, restaurants and caterers, grocery stores and national food chains. 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."
"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."
"Mesirow's expert guidance throughout the process and intricate knowledge of the sector were instrumental in bringing our partnership with LBP to fruition," commented Albert Salama.
Louis Mitchell, Managing Director of Mesirow Financial's Investment Banking group, said, "We are truly honored to have represented Sabert in this process. We believe that LBP's market-leading position with Quick Service Restaurants combined with Sabert's product offerings, global presence and resources will allow the combined company to deliver even greater value to the market."
The transaction represents another successful assignment completed by Mesirow Financial's Investment Banking group and highlights the firm's expertise within the Paper, Plastics, and Packaging sector. With extensive sector-specific expertise and deep long-standing relationships, Mesirow Financial's team has a proven track record of completing highly tailored and successful transactions on behalf of their clients.
About Mesirow Financial
Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions that deliver measurable results. To learn more, please visit mesirowfinancial.com.
About Sabert Corporation
Sabert is a leading global manufacturer of innovative food packaging products and solutions. The company was founded in 1983 on a single mission: to enhance and advance the way people enjoy food. Headquartered in Sayreville, New Jersey, Sabert operates North American facilities in New Jersey, California, Indiana, Kentucky, and Texas (opening in 2020) as well as manufacturing facilities in Nivelles, Belgium and Zhongshan, China. Using its proprietary Packaging Value Model™, Sabert combines deep insights about food lifecycles and consumer lifestyles, with fast and flexible production capabilities. Its industry-leading product designs encompass all five areas of innovative packaging: Performance, Presentation, Safety, Sustainability and Economics. For more information, visit sabert.com.
About LBP Manufacturing LLC
Chicago-based 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 widely known for its hot beverage solutions such as the original 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. LBP maintains a global operating footprint with manufacturing facilities in the U.S., Poland, and China. For more information, visit lbpmfg.com.
SOURCE Mesirow Financial