Mullinix Packages Inc. in Fort Wayne has been acquired by a New Jersey company. A Sabert Corp. spokeswoman says the company does not expect any immediate job loss in Allen County. Mullinix currently has around 400 workers.
The price of the deal is not being publicly disclosed, but the company says the combined operations are expected to have annual revenue of more than $500 million.
Sabert says "our intention is to integrate Mullinix into the Sabert family and grow this segment beyond its current level of operation. We will be developing and implementing integration plans function by function. As these plans are finalized, we will be communicating to the organization."
Mullinix has more than 200 customers in the packaging and food processing market. It produces hinged containers, deli containers, microwave and oven-safe trays, cups and trays.
Sabert founder and chief executive officer Albert Salama says "we are very excited to have Mullinix as part of the Sabert organization. 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 organization to deliver even greater value to the market."
Mullinix CEO Gene Gentili calls the acquisition a "great opportunity" for customers and employees. "Both companies have a long history of developing innovative solutions and quality products to meet the evolving needs of our long-standing customers," he says. "We look forward to working with the Sabert team to build a powerful packaging company on the strengths of the combined organizations."
Sabert Corp. has operations in New Jersey, California, Kentucky, Europe and China.