Sealed Air Corp. acquires MultiBagger Holdings
Oct. 19, 2011
by Meat&Poultry Staff
DUNCAN, SC – Sealed Air Corporation has acquired MultiBagger Holdings, a subsidiary of Machinery Developments Limited. Before the acquisition closed, Machinery Developments Limited transferred all of its assets to MultiBagger Holdings, including the MultiBagger paired bag dispensing equipment product line.
This 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,” said Karl Deily, president, 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.”
Customers will also benefit from the full range of existing Cryovac boneless and bone-in tubing materials immediately ready for use with the MultiBagger products, Deily added.
Financial terms of the transaction were not disclosed. Sealed Air does not expect the transaction to be material to its consolidated financial position or results of operations.