Packaging solutions provider Sealed Air has agreed to acquire the flexible packaging business of Philippines-based MGM for an undisclosed sum.
Image: Sealed Air to acquire MGM’s flexible packaging business. Photo: courtesy of rawpixel / Unsplash.
Based in Manila, MGM is expertise in printing and laminating, and offers flexible food packaging materials for consumer packaged goods markets in Southeast Asia.
Established in 1982, the firm also exports its products and extends its support to the companies in Australia, Brunei Darussalam, and New Zealand. MGM has around 150 employees.
Sealed Air will use MGM’s expertise to enhance its printing and lamination capabilities, as well as better serve its customers across the Asia Pacific region.
Since 20 years, Sealed Air has been providing services to its customers in the Philippines. The company has more than 2,000 employees in the Asian region.
The deal is expected to be completed in April this year.
Sealed Air SVP, president and chief commercial officer Karl Deily said: “We are excited to have the talented team at MGM join us and improve our ability to deliver world-class innovations to the region’s rapidly growing food market.
“This acquisition enables us to expand our capacity and footprint in Asia and aligns with our strategy to invest in high-growth geographies and markets.”
In August 2018, Sealed Air acquired US-based AFP, a privately-held fabricator of foam, corrugated, molded pulp and wood packaging solutions.
US-based AFP is engaged in providing custom-engineered protective packaging for retail, e-commerce and direct shipping applications. It employs 260 people.
Sealed Air’s portfolio includes brands such as Cryovac food packaging solutions and Bubble Wrap protective packaging solutions, which enable safer and less wasteful food supply chain and protect goods shipped around the world.
With around 15,500 employees, the company serves customers in 123 countries.
Earlier this month, Sealed Air has joined Alliance to End Plastic Waste (AEPW), a new global organization established to reduce plastic waste in the environment.
The company also announced its 2025 sustainability and plastics pledge to provide 100% recyclable or reusable packaging offerings, with 50% average recycled content by 2025.