Sealed Air sell European food trays business

Sealed Air to sell European food trays business

4:41 AM, 3rd October 2015
Sealed Air to sell European food trays business

CHARLOTTE, US: Sealed Air Corporation said that it has agreed to sell its European food trays business to FaerchPlast A/S, a European food packaging solutions provider. The transaction will include Sealed Air’s manufacturing facilities in Poole, UK and Bunol, Spain, and the closing is anticipated to occur in the fourth quarter of 2015. 

The European food trays businesses generated approximately $71 million in sales for fiscal year 2014.

“As we continue to transform into a knowledge-based company, we want to ensure that our resources are dedicated to support our core businesses and to drive the development of disruptive technologies that will accelerate our growth opportunities. This transaction follows the sale of our North American foam tray and pads business in April 2015,” said Jerome Peribere, president and CEO, Sealed Air.

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