Packaging maker Sealed Air buying Liquibox
Packaging supplier Liquibox employs approximately 1,300 workers across North America, Europe, Africa, Asia, and Australia.
In a bid to boost its presence in the quick service restaurants and liquid packaging segments, plastics packaging maker Sealed Air Corp. is buying Liquibox – a maker of bag-in-box sustainable fluids and liquids packaging and dispensing products – from private equity firm Olympus Partners for US$1.15 billion.
Headquartered in Richmond, Va., Liquibox employs approximately 1,300 workers across North America, Europe, Africa, Asia, and Australia. Its Bag-in-Box business is comprised of fountain beverage syrup, milkshake mix, dairy, coffee, water, wine, liquid foods, and industrial applications.
“Liquibox is a highly strategic acquisition to fuel growth and earnings power in our SEE Operating Engine,” CEO Ted Doheny said in a statement. The company plans to complement its core competencies in barrier bag manufacturing, film extrusion, automation and digital technology together with Liquibox Bag-in-Box and fitments “to drive accelerated combined growth,” the statement continued. Sealed Air also said the transaction is highly complementary to its Cryovac Fluids & Liquids business, which the company described as its “fastest growing area.”
Sealed Air is headquartered in Charlotte, N.C.