Acquisition Expands Sealed Air’s Protective Packaging Solutions in Key Markets
Sealed Air Corporation (NYSE:SEE) has further expanded its solutions portfolio and design capabilities with the acquisition of AFP, Inc., a leading, privately held fabricator of foam, corrugated, molded pulp and wood packaging solutions. The sale closed August 1, 2018.
AFP specializes in custom-engineered protective packaging for retail, e-commerce and direct shipping applications. Acquiring the company will allow Sealed Air to better position its fabricated foam innovations such as EcoPure, a sustainable solution made from plant-based resin. AFP generated $125 million in net sales in 2017 and operates six facilities across the U.S. with further presence in Asia and Mexico. Founded in 1978, it employs 260 and is headquartered in Pflugerville, Texas.
“With the acquisition of AFP, coupled with our 2017 acquisition of Fagerdala, Sealed Air will further expand its capability to provide fabricated designs directly to customers in markets such as electronics and transportation,” said Kenneth P. Chrisman, President of Sealed Air’s Product Care division. “Sealed Air will also continue to leverage its established network of strategic fabricator partners, which remains an integral part of the company’s strategy to deliver custom high-performance, sustainable packaging solutions.”