Sealed Air Corporation has acquired MultiBagger Holdings, a subsidiary of Machinery Developments Limited.
Before the acquisition closed Machinery Developments Limited transferred all of its assets to MultiBagger Holdings including the MultiBagger paired bag dispensing equipment product line.
This transaction expands Sealed Air's line of Cryovac packaging solutions for fresh and processed food customers.
MultiBagger products have an established presence in the North American fresh red meat market and will complement Cryovac's existing system automation and line integration capabilities.
Customers will also benefit from the full range of existing Cryovac boneless and bone-in tubing materials immediately ready for use with the MultiBagger products.
Financial terms of the transaction were not disclosed. Sealed Air does not expect the transaction to be material to its consolidated financial position or results of operations.
Source: Sealed Air Corporation