US-based packaging company Sealed Air (SEE) has closed the previously announced acquisition of liquid packaging firm Liquibox for $1.15bn on a cash and debt-free basis.
The deal brings together two flexible packaging firms and is consistent with both companies’ plans for high-performance growth and innovation.
Headquartered in Richmond, Virginia, US, Liquibox produces bag-in-box sustainable fluids and liquids packaging and dispensing solutions for fresh food, beverage, consumer goods and industrial end-markets.
The acquisition is expected to expand SEE’s CRYOVAC brand Fluids & Liquids business. It also accelerates SEE’s transition into a digitally-driven business automating sustainable packaging solutions.
SEE president and CEO Ted Doheny said: “Today is an exciting day for SEE as we welcome the global team at Liquibox.
“This is a powerful combination, bringing together our people, cultures, solution portfolios and global footprints that will deliver more innovative and sustainable solutions to the customers and markets we serve.
“Finalising this strategic acquisition is an important step in our journey to world-class status, fuelling growth, expanding market penetration and driving earnings power for our SEE Operating Engine.”
Founded in 1961, Liquibox provides high-quality, flexible packaging solutions that offer reliable product protection. The firm employs more than 1,400 people and operates across 17 locations around the world.
Sealed Air offers automated packaging solutions to promote a safer and less wasteful global food, fluids and liquids supply chain. Its solutions are fit for e-commerce and protect goods transported worldwide.
The packaging firm offers brands such as CRYOVAC brand food packaging, SEALED AIR brand protective packaging, AUTOBAG brand automated systems, BUBBLE WRAP brand packaging, SEEAutomation solutions and prismiq smart packaging.
SEE has pledged to design or upgrade 100% of its packaging materials to be recyclable or reusable by 2025.