FORT WAYNE, Ind. (WOWO): A Fort Wayne company has been bought out by a New Jersey group.

Sabert Corporation announced the move to purchase Millinix Packages Inc. yesterday, according to Inside Indiana Business, for an undisclosed amount of money.

A Sabert spokesperson says they plan on integrating the packaging and food processing company into their current business family and expanding it, adding there are no “immediate” job losses expected for Mullinix’s 400 employees.

Mullinix CEO Gene Gentili calls the deal a “great opportunity” for the company’s customers and employees.