Sealed Air to acquire Automated Packaging Systems
US-based technology company Sealed Air announced it has signed a definitive agreement to acquire Automated Packaging Systems (APS), a manufacturer of automated bagging systems from the US, for a purchase price of 510 million US-dollars.
APS reportedly provides full flexible packaging systems, including industry leading equipment, sustainable materials and technical services. Known for inventing Autobag bagging machines and pre-opened bags on a roll, the company also offers three recycled film solutions under the EarthAware brand.
Sustainable packaging offerings will be expanded
Founded in 1962, is said to employ more than 1,200 people, to serve customers in over 60 countries and to operate seven manufacturing sites in the US and UK. In 2018, APS reportedly generated 290 million US-dollars in sales, an increase of approximately 10% year-over-year.
"This transaction expands the breadth of our automated solutions and sustainable packaging offerings, giving us access to growth opportunities in the markets we serve", said Ted Doheny, Sealed Air President and CEO.
Sealed Air reportedly generated 4.7 billion US-dollars in sales in 2018 and has approximately 15,500 employees who serve customers in 123 countries.