Key Takeaways
- • Butterfly Equity, a Los Angeles-based private equity firm focused on the food and beverage sector, has entered into a definitive agreement to acquire Sabert Holding Corp., a global food packaging manufacturer headquartered in Sayreville, New Jersey.
- • The financial terms were not disclosed, and the transaction is subject to customary closing conditions with closing expected in Q4 2026.
- • Sabert operates 13 manufacturing facilities globally, including nine in the U.S., and produces plastic, paper and molded fiber packaging for foodservice, grocery, restaurant and fresh protein customers.
- • Founder Albert Salama will remain a meaningful minority investor through a rollover investment, aligning founder, management and investor interests.
- • Financial advisors on the deal include UBS Investment Bank and Goldman Sachs for Sabert, with KKR Capital Markets among the committed financing providers.
Summary
Butterfly Equity has agreed to acquire Sabert Holding Corp., according to a Business Wire announcement. Butterfly, which specializes exclusively in the food sector and reports approximately $12 billion in enterprise value across its portfolio since its 2016 founding, described Sabert as a leading global manufacturer of innovative and sustainable food packaging. The financial terms were not disclosed, and the deal is expected to close in the fourth quarter of 2026.
Founded in 1983 and headquartered in Sayreville, New Jersey, Sabert is a scaled packaging platform with capabilities across plastic, paper and molded fiber. The company operates 13 manufacturing facilities worldwide, nine of them in the United States, and reports about 3,000 employees and more than 400 product patents. Its customers span foodservice distribution, supermarkets and grocery, restaurants and quick-service chains, and fresh protein and food processors.
Albert Salama, Sabert's founder and executive chairman, said the company has focused for more than four decades on solutions that help customers respond to changing consumer eating habits. Adam Waglay, CEO, co-founder and managing partner at Butterfly, said Sabert fits the firm's criteria for a category-leading business with deep food-ecosystem roots, and cited consumer demand for convenience and flexibility as a driver of packaging demand. Sabert CEO Paul McCann is also part of the partnership. Salama will retain a meaningful minority stake, which the companies say underscores confidence in the company's strategic direction.
Advisers were named on both sides. Kirkland & Ellis LLP and KPMG LLP advised Butterfly on legal and financial and tax matters. UBS Investment Bank and Goldman Sachs served as financial advisers to Sabert, with Simpson Thacher & Bartlett LLP and FBT Gibbons LLP as legal counsel. Committed transaction financing is being provided by UBS Investment Bank, Goldman Sachs & Co. LLC and KKR Capital Markets.
Founded in 1983 and headquartered in Sayreville, New Jersey, Sabert is a scaled packaging platform with capabilities across plastic, paper and molded fiber. The company operates 13 manufacturing facilities worldwide, nine of them in the United States, and reports about 3,000 employees and more than 400 product patents. Its customers span foodservice distribution, supermarkets and grocery, restaurants and quick-service chains, and fresh protein and food processors.
Albert Salama, Sabert's founder and executive chairman, said the company has focused for more than four decades on solutions that help customers respond to changing consumer eating habits. Adam Waglay, CEO, co-founder and managing partner at Butterfly, said Sabert fits the firm's criteria for a category-leading business with deep food-ecosystem roots, and cited consumer demand for convenience and flexibility as a driver of packaging demand. Sabert CEO Paul McCann is also part of the partnership. Salama will retain a meaningful minority stake, which the companies say underscores confidence in the company's strategic direction.
Advisers were named on both sides. Kirkland & Ellis LLP and KPMG LLP advised Butterfly on legal and financial and tax matters. UBS Investment Bank and Goldman Sachs served as financial advisers to Sabert, with Simpson Thacher & Bartlett LLP and FBT Gibbons LLP as legal counsel. Committed transaction financing is being provided by UBS Investment Bank, Goldman Sachs & Co. LLC and KKR Capital Markets.
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