Bubble Wrap owner Sealed Air Corp. (NYSE: SEE) is buying privately held B+ Equipment, adding to the robust M&A activity in the manufacturing and packaging sectors. Financial terms were not disclosed.
Aubagne, France-based based B+ products, which include the I-pack and e-cube brands, are designed to help fulfill high-volume orders in the e-commerce sector.
Charlotte, North Carolina-based Sealed Air is a licensee of I-Pack in North America, Australia and New Zealand.
B+ comes on the heels of Sealed Air’s buying Intellibot Robotics LLC, a maker of robotic commercial floor-cleaning machines, in April 2015 for undisclosed terms.
Middle-market deals in the packaging sector have been picking up lately. On Aug. 3, CC Industries Inc. said it is going to buy Selig Sealing Holdings from New York private equity firm Behrman Capital for undisclosed terms. Selig makes closure linings for the food packaging and personal care industries.
In July, Germany’s Gerresheimer AG (FRA: GXI) announced that it is buying plastic vials maker Centor US Holding Inc. from Montagu Private Equity for $725 million in cash.
Other active strategic buyers in the space include Pittsburgh-based PPG Industries Inc. (NYSE: PPG) which won Mergers & Acquisitions’ 2014 M&A Mid-Market Award for Strategic Buyer of the Year. In July, PPG picked up texture repair products maker Homax Group Inc. and paint distributor Masterwork Paint Co.