Sealed Air acquires MultiBagger Holdings
Sealed Air Corp. has acquired MultiBagger Holdings, a wholly-owned subsidiary of Machinery Developments Ltd. Prior to the closing of the acquisition, Machinery Developments Limited transferred substantially all of 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, 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.