New Jersey-based global food packaging company Sabert Corporation has acquired Mullinix Packages, a US provider of plastic packaging solutions to food processors and the foodservice industry, from private equity investment firm Mason Wells.
Financial details of the deal have not been disclosed, but Sabert's annual sales are expected to exceed $500m with the addition of Mullinix.
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Sabert founder and chief executive officer Albert Salama said: "Mullinix has an experienced and talented team with superior technical capabilities.
“Their market-leading position with food processors combined with Sabert's product offerings, global presence and resources will allow the new organisation to deliver even greater value to the market."
Mullinix carries out its operations primarily out of Fort Wayne, Indiana, US, and provides more than 200 customers with packaging solutions and advanced technology..
The company uses a range of materials including polypropylene (PP), amorphous polyethylene terephthalate (APET), crystallising polyethylene terephthalate (CPET), polylactic acid (PLA) and barrier materials to extrude and thermoform products.
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Mullinix chief executive officer Gene Gentili said: "We look forward to working with the Sabert team to build a powerful packaging company on the strengths of the combined organisations."
Mesirow Financial and Gibbons acted as Sabert's exclusive financial advisor and legal advisor respectively, while Mullinix was advised by William Blair & Co. and Quarles & Brady.
