Sealed Air Acquires MultiBagger Holdings
Deal expands Cryovac's food solutions.
October 19, 2011
by Canadian Packaging Staff
Sealed Air Corporation has acquired MultiBagger Holdings, a wholly-owned subsidiary of Machinery Developments Limited.
Just prior to the acquisition closing, Machinery Developments transferred its assets to MultiBagger Holdings, including the MultiBagger paired bag dispensing equipment product line.
The transaction expands Sealed Air’s line of Cryovac packaging solutions for fresh and processed food customers.
“This is an opportunity to strengthen our commitment to offering complete shrink packaging systems that enable customers to reduce inventory costs and increase operational efficiency,” says Karl Deily, president of Sealed Air’s Cryovac Food Packaging business. “MultiBagger products have an established presence in the North American fresh red meat market and will complement our existing system automation and line integration capabilities.”
Deily adds that customers also will benefit from the full range of existing Cryovac boneless and bone-in tubing materials immediately ready for use with the MultiBagger products.
Financial terms of the transaction were not disclosed and Sealed Air does not expect the transaction to be material to its consolidated financial position or results of operations.
For more information on Sealed Air’s Cryovac brand, visit www.cryovac.com or call 1-800-845-3456.
About Sealed Air
Sealed Air is a global leader in food safety and security, facility hygiene and product protection. With widely recognized and inventive brands such as Bubble Wrapbrand cushioning, Cryovac brand food packaging solutions and Diversey brand cleaning and hygiene solutions, Sealed Air offers efficient and sustainable solutions that create business value for customers, enhance the quality of life for consumers and provide a cleaner and healthier environment for future generations. On a pro forma basis, Sealed Air generated revenues of $7.6 billion in 2010 and has approximately 26,000 employees servicing customers in 175 countries. To learn more, visit www.sealedair.com.