Butterfly Equity (“Butterfly”), a Los Angeles-based private equity firm specializing in the food and beverage sector, today announced it has entered into a definitive agreement to acquire Sabert Holding Corp. (“Sabert” or the “Company”), a leading global manufacturer of innovative and sustainable food packaging solutions. The financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and is expected to close in Q4 2026.

Founded in 1983 and headquartered in Sayreville, New Jersey, Sabert is a scaled food packaging platform with capabilities across plastic, paper and molded fiber. The Company operates 13 manufacturing facilities globally, including nine in the U.S., and serves leading customers across the food & beverage landscape, including foodservice distribution, supermarkets & grocery, restaurants & QSRs, and fresh protein and food processors. Sabert has built longstanding customer relationships through its focus on innovation, design and service. The business is supported by over 400 product patents and dedicated research, tooling and innovation capabilities.

“For more than four decades, Sabert has been focused on developing unique solutions that help our customers respond to the changing ways consumers eat and live,” said Albert Salama, Founder and Executive Chairman of Sabert. “Butterfly’s deep expertise and understanding of our customers and end markets make them an ideal partner for our next chapter. We look forward to working together to continue investing in innovation and delivering exceptional products and services to our customers.”

The acquisition further advances Butterfly’s strategy of investing in the businesses that power the evolving food and beverage segment, including packaging. Butterfly has emerged as a differentiated partner for well-positioned packaging companies, drawing upon its insights and connectivity throughout the entire food and beverage value chain to accelerate growth and profitability. Albert Salama will remain a meaningful minority investor following the closing of the transaction, underscoring continued confidence in the Company’s strategic direction and long-term value creation potential. The rollover investment further aligns the interests of the founder, management team, and investors as the Company executes its growth initiatives.

“Sabert is exactly the type of business we look for at Butterfly: a category-leading player with deep roots across the food ecosystem, differentiated capabilities and tremendous opportunities for continued growth,” said Adam Waglay, CEO, Co-Founder & Managing Partner at Butterfly. “As consumers increasingly prioritize convenience and flexibility in how and where they eat, packaging plays an essential role in enabling the food industry to meet those needs. We are thrilled to partner with Albert, Sabert CEO, Paul McCann, and the entire Sabert team to build on the incredible business they have created.”

Butterfly was advised by Kirkland & Ellis LLP on legal matters and by KPMG LLP on financial and tax matters. UBS Investment Bank and Goldman Sachs acted as financial advisors to Sabert, and Simpson Thacher & Bartlett LLP and FBT Gibbons LLP acted as legal counsel to Sabert. Committed financing for the transaction is being provided by UBS Investment Bank, Goldman Sachs & Co. LLC and KKR Capital Markets.

About Sabert

Sabert is a leading global manufacturer of innovative food packaging products and solutions with ~3,000 employees. The company was founded in 1983, grounded in the purpose of reinventing food packaging to nourish and protect our world. Headquartered in Sayreville, New Jersey, Sabert operates North American facilities in California, Illinois, Indiana, Kentucky, New Jersey, Texas, Georgia, and Virginia, as well as international manufacturing facilities in Belgium, England, Poland and 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 www.sabert.com.

About Butterfly

Butterfly is a private equity firm specializing exclusively in the $28 trillion food sector. Butterfly is a leading food ecosystem investor in North America and seeks to generate consistent investment returns through deep sector expertise, a data-driven investment process, and an operations-driven approach to value creation. Since its founding in 2016, the firm has invested in a diverse portfolio of category-leading businesses representing approximately ~$12 billion in enterprise value including Sabert, Custom Flavors, ePac Flexible Packaging, The Duckhorn Portfolio, Rise Baking Company, Actus Nutrition, Chosen Foods, Pete and Gerry’s, MaryRuth Organics, Orgain, Generous Brands (a portfolio consisting of Health-Ade, Evolution Fresh, and Bolthouse Farms), Bolthouse Fresh Foods and QDOBA, among others. Butterfly is headquartered in Los Angeles with an additional office in New York City. For more information, please visit https://www.bfly.com/.

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