[packaging supplies] The packaging industry has always been highly competitive. However, with the development of the e-commerce process, the Internet has brought all enterprises a new business model, and many companies have chosen to enter the Internet market. The packaging industry is no exception!
Buying AFP will support growth in packaging designs for electronics and transportation markets, firm says.
Packaging solution provider Sealed Air Corp. said today it has acquired the packing supplies fabricator AFP Inc. in a move to expand its share of the market for providing protective packaging for e-commerce fulfillment.
Pflugerville, Texas-based AFP specializes in custom-engineered protective packaging for retail, e-commerce, and direct shipping applications. The firm supplies packing materials such as foam, corrugated, molded pulp, and wood.
The deal will help Charlotte, N.C.-based Sealed Air to leverage its position as a supplier of fabricated foam products including its EcoPure line, a sustainable solution made from plant-based resin, the company said.
Terms of the acquisition were not disclosed. AFP employs 260 people and posted net sales of $125 million in 2017.
The deal follows Sealed Air's $100 million acquisition of Singapore-based polyester foam manufacturer Fagerdala Singapore Pte Ltd. in 2017, and will help the company grow its production of fabricated designs for customers in the electronics and transportation markets, Kenneth P. Chrisman, president of Sealed Air's Product Care division, said in a statement.
Sealed Air has increased its focus on custom packaging solutions in recent years, announcing in 2016 a partnership with UPS Inc. to help shippers streamline their packaging processes and reduce shipping costs by avoiding parcels stuffed with excess packaging.