Acquisition expands company’s packaging solutions.
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
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.