Sealed Air Corp. (NYSE: SEE), the manufacturer of Bubble Wrap, said Tuesday it will buy Richmond’s Liquibox Corp. in a $1.15 billion deal.
Liquibox makes flexible packaging for fresh food, beverages, consumer goods and industrial end-markets. Charlotte, North Carolina’s Sealed Air said in its announcement the acquisition will complement its Cryovac fluids and liquids business, the company’s fastest-growing area.
“This move broadens the breadth of Cryovac solutions, making our portfolio stronger and more resilient as Sealed Air navigates recessionary environments,” Ted Doheny, Sealed Air president and CEO, said in a statement.
Liquibox, founded in 1961, has more than 1,300 employees and 18 locations globally. It estimated its 2022 full-year revenue at $362 million.
“This will be a new chapter for Liquibox — a chance to accelerate innovation and bring sustainable packaging solutions to more customers and geographies,” Liquibox President and CEO Ken Swanson said in a statement…
Read the full story from the Washington Business Journal.
