CHARLOTTE, NC (News release) -- SEE announced that it has completed the previously announced acquisition of Liquibox for a purchase price of $1.15 billion on a cash and debt-free basis.

This strategic acquisition unites two leaders in the global flexible packaging industry and aligns with the high-performance growth and innovation cultures of both companies. Liquibox is a pioneer, innovator and manufacturer of Bag-in-Box sustainable fluids & liquids packaging and dispensing solutions for fresh 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.

"Today is an exciting day for SEE as we welcome the global team at Liquibox," said Ted Doheny, SEE's President & CEO. "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. Finalizing this strategic acquisition is an important 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 SEE's Investors homepage at www.sealedair.com/investors.