Sealed Air to acquire liquid packaging producer Liquibox for $1.15bn
Sealed Air (SEE), a packaging company listed on the New York Stock Exchange, has agreed to acquire Liquibox, a US-based sustainable liquid packaging solutions manufacturer, from Olympus Partners for $1.15 billion.
The acquisition of the liquid packaging producer is expected to help Sealed Air to increase its penetration in foodservice, quick service restaurants, liquid packaging, and other attractive end markets.
Founded in 1961, Liquibox provides bag-in-box solutions and engineered fitments and dispensers for fresh food, beverage, consumer goods, and industrial end-markets.
Liquibox’s Bag-In-Box business includes milkshake mix, fountain beverage syrup, dairy, water, liquid foods, wine, coffee, and industrial applications.
The Bag-in-Box Liquipure of the liquid packaging producer is said to be recycle-ready and is expected to replace metallic laminated bags, while Liquibox Orbiter, a fully automatic, six-head rotary filler, boosts productivity for high-volume operations.
The proposed transaction also complements and broadens Sealed Air’s Cryovac Fluids & Liquids business.
Liquid packaging producer Liquibox to be acquired by Sealed Air. Image courtesy of Sealed Air.
Ted Doheny — Sealed Air President and CEO, said: “This move broadens the breadth of Cryovac solutions, making our portfolio stronger and more resilient as SEE navigates recessionary environments.
“We will generate strong synergies and accelerate innovation by combining Cryovac’s barrier bags and films and technology for fresh foods with Liquibox Bag-in-Box dispensing capabilities, unleashing significant value creation to our customers and shareholders.”
Liquibox with over 1,300 employees across North America, Europe, Asia, Africa, and Australia, estimates 2022 full year revenue of $362 million and an adjusted EBITDA of $85 million.
Liquibox launched VINIflow Bag-in-Box dispensing tap in 2021.
Expected to be completed in the first quarter of 2023, the acquisition of the liquid packaging producer by Sealed Air is subject to regulatory approvals and other customary closing conditions.