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Last updated: Friday, March 22, 2019

 

Acquiring MGM’s Flexible Packaging Business, Sealed Air Plans Operation Expansion in Asia

Posted: Wednesday, February 13, 2019

Sealed Air Corporation (NYSE:SEE) has acquired MGM’s flexible packaging business. MGM is a privately held company headquartered in Manila, the Philippines. The transaction is expected to close in April.

Founded in 1982, MGM, specializes in printing and laminating and provides flexible food packaging materials for consumer packaged goods markets in Southeast Asia. The company also exports to and supports companies in Australia, Brunei Darussalam, and New Zealand.

Sealed Air plans to leverage MGM’s expertise to expand its printing and lamination capabilities and better serve customers throughout the Asia Pacific region.

“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,” said Karl Deily, SVP, President and Chief Commercial Officer of Sealed Air. “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.”

Sealed Air has had a presence in the Philippines for more than 20 years and employs more than 2,000 people in Asia. MGM employs 150 people.

Terms of the transaction were not disclosed and are not material to Sealed Air’s financial results.

Sealed Air Corporation is a knowledge-based company focused on packaging solutions that help our customers achieve their sustainability goals in the face of today’s biggest social and environmental challenges. Our portfolio of widely recognized brands, including Cryovac® brand food packaging solutions and Bubble Wrap® brand cushioning, enable a safer and less wasteful food supply chain and protect valuable goods shipped around the world. Sealed Air generated $4.5 billion in sales in 2017 and has approximately 15,000 employees who serve customers in 122 countries. To learn more, visit sealedair.com.

TLD








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