Liquibox has been bought by Sealed Air, which trades as SEE on the New York Stock Exchange.
Sealed Air paid $1.15 billion for Liquibox, according to a news release about the deal.
North Carolina-based Sealed Air, which has about 16,500 workers worldwide, said the acquisition is complementary to its Cryovac Fluids & Liquids business, its fastest-growing area.
“Liquibox is a highly strategic acquisition to fuel growth and earnings power in our SEE Operating Engine,” says Ted Doheny, president and CEO. “… Both of our cultures strive for world-class performance and place strong emphasis on talent, sustainability, innovation, and operational excellence.”
Founded in 1961, Liquibox is headquartered in Richmond, Virginia. It employs more than 1,300 people and operates across 18 locations globally. The company estimates 2022 full-year revenue of $362 million.
“We look forward to partnering closely with the team at SEE,” says Ken Swanson, Liquibox president and CEO. “This will be a new chapter for Liquibox—a chance to accelerate innovation and bring sustainable packaging solutions to more customers and geographies.”
Liquibox’s Bag-in-Box business comprises fountain beverage syrup, milkshake mix, dairy, coffee, water, wine, liquid foods, and industrial applications. It recently launched the Bag-in-Box Liquipure® that is recycle-ready and aims to replace metallic laminated bags, and Liquibox Orbiter®, a fully automatic, six-head rotary filler that increases productivity for high-volume operations.