SEE has completed the previously announced acquisition of Liquibox for $1.15 billion on a cash and debt-free basis. This acquisition unites two leaders in the flexible packaging industry and aligns with the high-performance growth and innovation cultures of both companies.
What does Liquibox bring to SEE’s portfolio?
Liquibox is a pioneer and manufacturer of Bag-in-Box sustainable fluids & liquids packaging and dispensing solutions for food, beverage, consumer goods and industrial end-markets.
This acquisition accelerates SEE’s fastest growing segment, the CRYOVAC® brand Fluids & Liquids business. CRYOVAC® technology, scale and market access provide a significant source of synergies. This acquisition contributes to and fast tracks SEE’s transformation to become a world-class, digitally driven company automating sustainable packaging solutions.
What does the acquisition mean for SEE?
“Today is an exciting day for SEE as we welcome the global team at Liquibox. This is a powerful combination, bringing together our people, cultures, solution portfolios and global footprints that will deliver more innovative and sustainable solutions to the customers and markets we serve,” commented Ted Doheny, SEE’s President & Chief Executive Officer.
“Finalizing this acquisition is a crucial step in our journey to world-class status, fueling growth, expanding market penetration and driving earnings power for our SEE Operating Engine.”
SEE will discuss the closing of the acquisition during its full year 2022 earnings call on February 9, 2023. The conference will be webcast live at 10:00 a.m. EST. Interested parties can join the webcast or listen on-demand by visiting Investors homepage at the website.
Goldman Sachs & Co. LLC served as sole financial advisor and Wachtell, Lipton, Rosen & Katz served as legal advisor to SEE. KPMG advised on Financial, Tax, HR, and IT due diligence.