Sealed Air Corp. (NYSE: SEE) has purchased foam manufacturer Fagerdala Singapore Pte Ltd. for $100 million. The acquisition gives Sealed Air a stronger presence in Asia and is part of its strategy to expand globally.
Based in Singapore, Fagerdala makes packaged foam products that are used for wooden crates and pallets. The company, founded in 1983, has 14 manufacturing facilities across Asia and Norther America, and posted $80 million in sales in 2016. Fagerdala chairman Paul Yeo CT says the deal will allow the company to "respond even more rapidly to our customers globally."
Sealed Air, headquartered in North Carolina, manufactures sealed bags, paper products, containers for the food and healthcare sectors. The company, which is known for producing Bubble Wrap has been expanding its international presence through M&A. Earlier in 2017, Sealed Air announced the acquisition of Brazilian food packager Deltaplam Embalagens, and in 2015, the company purchased France-based B+ Equipment, which makes to help fulfill high-volume orders in the e-commerce sector.
In other packaging deals, Dade Paper & Bag Co.’s agreed to merge with Imperial Bag & Paper Co. LLC; Sabert Corp. is buying of Mullinix Packages Inc. from Mason Wells; and Sonoco (NYSE: SON) has reached a deal to purchase Clear Lam Packaging Inc.