Butterfly Equity, a Los Angeles-based private equity firm, has agreed to acquire food packaging manufacturer Sabert Holding Corp in a deal expected to close in the fourth quarter of 2026, expanding the buyer's portfolio across the global food and beverage value chain.

Financial terms of the transaction were not disclosed.

What does the deal cover?

Sabert manufactures food packaging across plastic, paper and moulded fibre. The company operates 13 manufacturing facilities globally, including nine in the US, and employs approximately 3,000 people.

Its customer base spans foodservice distribution, supermarkets and grocery, restaurants and quick-service restaurants (QSRs), plus fresh protein and food processors. The company runs plants in North America, Belgium, England, Poland and China — three of which sit inside European hospitality supply corridors.

Sabert holds more than 400 product patents and runs in-house research, tooling and innovation capabilities. The business organises its offering into five development areas:

• Performance
• Presentation
• Safety
• Sustainability
• Economics

Why is Butterfly buying Sabert?

CEO, co-founder and managing partner Adam Waglay tied the acquisition to consumer demand for convenience and on-the-go formats: "As consumers increasingly prioritise 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 has previously invested in ePac Flexible Packaging, alongside businesses spanning food manufacturing, ingredients, nutrition and foodservice.

Who stays, and what changes at Sabert?

Founder and executive chairman Albert Salama will retain a meaningful minority investment. Paul McCann remains chief executive. The existing management team continues in place.

Salama said: "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. 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."

Founded in 1983 and headquartered in Sayreville, New Jersey, Sabert operates as a US-rooted platform with European manufacturing scale across Belgium, England and Poland.

What does the deal machinery look like?

The advisory and financing stack includes:

• Butterfly: Kirkland & Ellis (legal), KPMG (financial)
• Sabert: UBS Investment Bank and Goldman Sachs (financial), Simpson Thacher & Bartlett and FBT Gibbons (legal)
• Committed financing: UBS Investment Bank, Goldman Sachs & Co, KKR Capital Markets

The deal is subject to customary closing conditions and targets a Q4 2026 close.

What does this mean for European hospitality?

For European hotel groups, QSR chains, contract caterers and supermarket ready-meal operators sourcing clamshells, kraft cartons and moulded-fibre trays, ownership change preserves supply continuity through Belgian, English and Polish plants during the interim operating period. Existing supply contracts remain unaffected.

For investors, the transaction underscores continuing PE appetite for packaging suppliers exposed to convenience-led eating. QSRs, delivery-led restaurant concepts and supermarket meal solutions drive demand across the five Sabert categories, making the asset resilient to shifts in dine-in versus off-premise spend.

Antitrust clearance in the EU, UK and US will determine the regulatory path to a Q4 2026 closing. Procurement teams should expect no immediate contract changes; longer-term sourcing strategies will follow once the deal completes.