SEE Acquires Foxpak

Rhea-AI Summary

Sealed Air (NYSE: SEE) has acquired Foxpak Flexibles Ltd., an Irish company specializing in digital printing on flexible packaging, through its SEE Ventures initiative. This acquisition aims to enhance Sealed Air's digital packaging solutions and drive innovation in smart packaging. Established in 2001, Foxpak serves customers in over 30 countries and has built a reputation for customer-centric solutions.

Details regarding the financial terms of the acquisition were not disclosed, as it is not considered material to Sealed Air’s financial results.

Positive

• Acquisition of Foxpak enhances digital packaging solutions.
• Foxpak's expertise in digital printing can accelerate innovation.
• Foxpak serves a diverse range of markets including food and snacks.

Negative

• None.

Pioneer in Digital and Graphics Packaging

CHARLOTTE, N.C.--(BUSINESS WIRE)-- SEE (NYSE: SEE) has announced the acquisition of Foxpak Flexibles Ltd. (Foxpak) under SEE Ventures, its initiative for investing in disruptive technologies and business models to accelerate growth.

Foxpak, a privately-owned Irish packaging solutions company, pioneered the development of digital printing on flexible packaging. Foxpak partners with leading brands to deliver highly decorated packaging solutions; stand-up and spout pouches, and sachets that serve a variety of markets including food retail, pet food, seafood, and snacks.

Foxpak has leveraged digital printing capabilities to print directly on its flexible packaging materials to empower their customers’ brands. Their solutions can be quickly scaled up or down to meet the production requirements for customers of any size.

“Foxpak will build on our digital packaging solutions where graphic design and digital printing are key areas of value creation. Foxpak is recognized as a customer-centric, digital printing pioneer,” said Ted Doheny, President and CEO at SEE. “Together we will accelerate our digital future with innovations in smart packaging for leading brands around the world.”

Established in 2001, Foxpak is located in Collon, Ireland and employs 33 people, serving brands in more than 30 countries.

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Terms of the deal have not been disclosed given this transaction is not material to SEE’s financial results.

About SEE

Sealed Air (NYSE: SEE) is in business to protect, to solve critical packaging challenges, and to make our world better than we found it. Our automated packaging solutions systems create a safer, more resilient and less wasteful global food supply chain, enable e-commerce, and protect goods transported worldwide.

Our globally recognized brands include CRYOVAC^® brand food packaging, SEALED AIR^® brand protective packaging, AUTOBAG^® brand automated systems, BUBBLE WRAP^® brand packaging, and SEE™ Touchless Automation™ solutions.

SEE’s Operating Model, along with our industry-leading expertise in materials, engineering and technology, create value through more sustainable, automated, and digitally connected packaging solutions.

We are leading the packaging industry to create a more environmentally, socially, and economically sustainable future and have pledged to design or advance 100% of our packaging materials to be recyclable or reusable by 2025, and a bolder goal to reach net-zero carbon emissions in our global operations by 2040. Our Global Impact Report highlights how we are shaping the future of the packaging industry. We are also committed to a diverse workforce and inclusive culture through our 2025 Diversity, Equity and Inclusion pledge.

SEE generated $4.9 billion in sales in 2020 and has approximately 16,500 employees who serve customers in 117 countries/territories. To learn more, visit sealedair.com.

Website Information

We routinely post important information for investors on our website, sealedair.com, in the Investors section. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as “anticipate,” “believe,” “plan,” “assume,” “could,” “should,” “estimate,” “expect,” “intend,” “potential,” “seek,” “predict,” “may,” “will” and similar references to future periods. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, expectations regarding the results of restructuring and other programs, anticipated levels of capital expenditures and expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings. The following are important factors that we believe could cause actual results to differ materially from those in our forward-looking statements: global economic and political conditions, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, consumer preferences, the effects of animal and food-related health issues, pandemics, changes in energy costs, environmental matters, the success of our restructuring activities, the success of our financial growth, profitability, cash generation and manufacturing strategies and our cost reduction and productivity efforts, changes in our credit ratings, the tax benefit associated with the Settlement agreement (as defined in our most recent Annual Report on Form 10-K), regulatory actions and legal matters, and the other information referenced in the “Risk Factors” section appearing in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as revised and updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220202005940/en/

Company Contacts



Investor Relations

Lori Chaitman

lori.chaitman@sealedair.com

516.458.4455



Media

Christina Griffin

Christina.griffin@sealedair.com

704.430.5742

Source: Sealed Air

FAQ

What is the significance of Sealed Air's acquisition of Foxpak Flexibles Ltd.?

The acquisition aims to strengthen Sealed Air's digital packaging offerings and drive innovation in the smart packaging sector.

When did Sealed Air announce the acquisition of Foxpak?

Sealed Air announced the acquisition of Foxpak Flexibles Ltd. on the date of the press release, February 2, 2022.

How does Foxpak's expertise benefit Sealed Air?

Foxpak's pioneering work in digital printing on flexible packaging is expected to enhance Sealed Air's capabilities and accelerate growth.

What markets does Foxpak serve?

Foxpak serves various markets, including food retail, pet food, seafood, and snacks.

How will this acquisition impact Sealed Air's future?

The acquisition is anticipated to bolster Sealed Air's digital capabilities and open new avenues for growth in innovative packaging solutions.