This deal would be the latest in a series of large packaging transactions in recent years as the sector weathers shifting economic factors.
The North Carolina-based company — known for its brand names such as Autobag, Bubble Wrap, Cryovac and Liquibox — employs an estimated 16,400 people servicing customers in multiple countries. The company generated approximately $5.4 billion in sales last year, with a focus on food and protective packaging.
Sealed Air is in the midst of a multiyear turnaround plan, including multiple CEO changes since late 2023, cost reduction efforts and a refocused strategy. It has been affected by shifting trends in e-commerce packaging, cost-pressured consumers, a decline in beef production and other factors. Henry Keizer, chairman of Sealed Air’s board of directors, noted in a statement that this decision was the result of a yearlong review of strategic alternatives.
During the company’s latest earnings call, CEO Dustin Semach said volumes in the protective segment were starting to see their first positive inflection point since 2021 though sales were still down year over year. Food packaging sales were up year over year, though affected by various economic trends. Sealed Air reported nearly $3.96 billion in net sales through Q3, down 1.5%, and increased its full-year guidance to an upper range of $5.325 billion.
Speculation has been growing about whether the company could sell, or possibly split up into different parts, based on initial reporting by The Wall Street Journal. Analysts from RBC Capital Markets and Truist Securities cited pressure from activist investor Ancora Alternatives, first reported by Semafor, as a possible contributing factor. RBC Equity Analyst Arun Viswanathan noted on Nov. 13 that the food business could be the higher valued of the two and said overall the company had been “executing well” under stabilized leadership. READ MORE
by Cole Rosengren
Source: packagingdive.com
Manufacturing of the new product line is based in Liberty, Kentucky, at Tarter USA’s production facility. The program uses a modern manufacturing environment that includes precision laser cutting, robotic fabrication, and integrated robotic and manual welding systems.
Honeywell has announced a collaboration with Rhombus, a leader in cloud-based video management, to expand its cloud-connected security and access solutions portfolio with new, AI-powered video solutions. This furthers Honeywell’s effort to accelerate and modernize how customers approach building security, which began in 2024 with the acquisition of LenelS2.
Comau and Reis Robotics have signed a cooperation agreement aimed at jointly developing and delivering advanced automation products and solutions for multiple industrial sectors through a coordinated technical and commercial approach.
