Automated Packaging Systems Inc. (APS) is to be acquired by Sealed Air in the third quarter of this year. The parties signed the takeover agreement on 1 May. The purchase price is expected to be USD 510 million, according to APS. The official reviews of the takeover are still pending.
APS, which has established itself as a leading provider of Pouch packaging which has sold more than 30,000 pouch packaging machines in the USA since it was founded in 1962, is being acquired by another leading provider of customised solutions in the food, product, pharmaceutical and medical technology packaging sectors. „The acquisition of APS is fully in line with our goal of doubling our rate of innovation over the next five years,“ comments Ted Doheny, President and CEO of Sealed Air, according to the press release.
Machines, bags and service from a single source
„Automated Packaging Systems is the market leader with unique, innovative and fully automated solutions, equipment, materials and services.“
Ted Doheny, President and CEO of Sealed Air
With this acquisition, Sealed Air is acquiring a specialised supplier of machines, matching bags and service from a single source. Sealed Air itself is known for its food packaging brand Cryovac and the Bubble wrap protective packaging. The Group, which operates in 123 countries worldwide, employs around 15,500 people, according to its own information. In 2018, annual turnover totalled 4.7 billion US dollars.
Last year, APS achieved an annual turnover of 290 million US dollars. The provider is headquartered in Streetsboro, Ohio. APS is also active internationally and serves customers in 60 countries. More than 1,200 people are employed in total. The branch office for Germany, Austria, Switzerland and the Eastern European countries is located in Wolfenbüttel.
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