Sealed Air to acquire Automated Packaging Systems for $510m

Sealed Air has signed a definitive agreement to acquire Automated Packaging Systems (APS) for $510 million on a cash and debt free basis.

APS provides packaging systems, including equipment, sustainable materials and technical services. Known for inventing Autobag bagging machines and pre-opened bags on a roll, APS also offers three recycled film solutions under the EarthAware brand.

In 2018, APS generated $290 million in sales, an increase of approximately 10% year-over-year.

The deal is seen as important in the eCommerce and food packaging markets.

The transaction is expected to close early in the third quarter of 2019, subject to applicable regulatory reviews and customary closing conditions.