Charlotte’s own Sealed Air Corporation announced plans to acquire Liquibox for $1.15 billion.
Sealed Air has become a global leader in sealing air in boxes and Liquibox excels in sealing liquid in boxes, combined, their vertical supply chain integration will be unprecedented.
“Liquibox is a highly strategic acquisition to fuel growth and earnings power in our Operating Engine.” Said Sealed Air President Ted Doheny in a press release. “We look forward to welcoming Liquibox’s talented team. Both of our cultures strive for world-class performance and place strong emphasis on talent, sustainability, innovation and operational excellence.”
Exciting day for us. Today SEE announced $1.15B acquisition of Liquibox combining capabilities with powerful fluids & liquids packaging brand @cryovac to accelerate innovation & bring sustainable packaging solutions to more customers, geographies & people. https://t.co/Acbx7W6RnL pic.twitter.com/0akiwu4Gkp
— Sealed Air Corporation (@Sealed_Air) November 1, 2022
Liquibox was founded in 1961 and is currently headquartered in Richmond, Va. They currently employ 1,300 workers, many of whom will be transitioned to Charlotte after being acquired by Sealed Air.
Sealed Air will use $1 billion of debt financing and $150 million of cash on hand to make the purchase.
What do you think about the merger?