P&M Corporate Finance (PMCF) is pleased to announce that it served as exclusive financial advisor to Gage Industries, Inc. (Gage) in the sale of its packaging business to Sabert Corporation (Sabert). Based in Lake Oswego, Oregon, Gage is a leading manufacturer of thermoformed packaging and extruded sheet. Gage’s packaging business consists of disposable CPET dual-ovenable and cold food containers, servicing the grocery, food processor, institutional and dietary meal producer markets. Sabert, headquartered in Sayreville, New Jersey, is a global manufacturer of short-life products, including catering platters and bowls, tableware and to-go food packaging supplying the foodservice, supermarket, food processor, and consumer markets.
Gage’s packaging business will complement Sabert’s existing product lines and position the combined entity for future growth. “Combining our two companies will help Sabert deliver on our goal of providing superior value to our customers. By integrating Gage’s Packaging Business within our three U.S. facilities, located in California, Kentucky and New Jersey, we will enhance our offering to both Gage and Sabert customers.” said Craig Muldrew, Vice President of Marketing at Sabert Corporation in a recent press release.
Gage shareholders made the decision to divest the company’s rapidly growing packaging business following the divestiture of its fabrication division in October 2007. PMCF’s Plastics and Packaging team led a highly competitive sale process that ultimately led to a successful transaction with Sabert, which closed July 1, 2008.
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