Based in Virginia, Liquibox is a manufacturer of bag-in-box sustainable fluids and liquids packaging and dispensing solutions for the fresh food, consumer goods, beverage, and industrial end-markets

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Liquibox to be acquired by SEE for $1.15bn. (Credit: Liquibox)

US-based Sealed Air (SEE) has agreed to acquire packaging solutions provider Liquibox for $1.15bn to expand its footprint in the quick service restaurants and liquid packaging segments.

Founded in 1961 and headquartered in Virginia, Liquibox is a manufacturer of bag-in-box sustainable fluids and liquids packaging and dispensing solutions. The company serves the fresh food, consumer goods, beverage, and industrial end-markets.

Its bag-in-box business division includes fountain beverage syrup, dairy, milkshake mix, coffee, wine, water, liquid foods, and industrial applications.

Liquibox president and CEO Ken Swanson said: “We look forward to partnering closely with the team at SEE. This will be a new chapter for Liquibox – a chance to accelerate innovation and bring sustainable packaging solutions to more customers and geographies.”

According to SEE, the deal will benefit its cryovac fluids and liquids business, which is said to be its fastest-growing segment.

SEE said that Liquibox will benefit from its geographical reach to bring in synergistic growth opportunities. On the other hand, Liquibox’s filler equipment technology is expected to be an attractive source of growth for SEE Automation.

Furthermore, SEE said that its integrated approach to digital and the development of prismiq digital packaging and printing solutions will be advantageous for e-commerce ready solutions for liquids and fluids.

The transaction is presently anticipated to close in the first quarter of 2023, subject to the receipt of all regulatory approvals and other usual closing conditions.

Upon completion of the deal, the combined solutions offering includes Cryovac Autopouch vertical form fill seal and Flex Prep automation solutions for back-of-house productivity and Liquibox bag-in-box solutions for soda fountains, urn liners, dairy, and to-go liquid box packaging.

SEE president and CEO Ted Doheny said: “This is an exciting day for SEE. Liquibox is a highly strategic acquisition to fuel growth and earnings power in our SEE Operating Engine.

“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.”