Bird & Bird and Basham, Ringe y Correa advised on the deal
Sealed Air Corporation (NYSE: SEE) announced today the acquisition of Fagerdala Singapore Pte Ltd., a manufacturer and fabricator of polyethylene foam. Sealed Air will acquire 100 percent of Fagerdala shares for approximately $100 million in cash. The sale is expected to close in October of 2017.
Fagerdala, established in 1983 with headquarters in Singapore, has 14 manufacturing facilities, employs more than 1,300 people in China, Thailand, Singapore, Malaysia, Mexico and the United States, and generated $80 million in sales in 2016. Sealed Air plans to leverage Fagerdala’s manufacturing footprint in Asia, expertise in foam manufacturing and fabrication, and commercial organization to grow sales in the consumer electronics, medical equipment and devices, automotive, temperature assurance, and e-commerce fulfillment sectors.
Sealed Air Corporation is knowledge-based company focused on packaging solutions that help our customers achieve their sustainability goals in the face of today’s biggest social and environmental challenges. Our portfolio of widely recognized brands, including Cryovac® brand food packaging solutions and Bubble Wrap® brand cushioning, enables a safer and less wasteful food supply chain and protects valuable goods shipped around the world. Sealed Air generated $4.2 billion in sales in 2016 and has approximately 14,000 employees who serve customers in 117 countries.
Bird & Bird advised Sealed Air Corporation with Sandra Seah (Picture), Sven-Michael Werner, Christine Yiu, Kathryn Edghill, Jonathan Kao, Eef Gerard Van Emmerik, Serena Du and Sarah Wang.
In Mexico Basham, Ringe y Correa advised Sealed Air Corporation with Amilcar García, Rodolfo Barreda, Amilcar Peredo, Jeffrey Powell, Luis Antonio Álvarez and Ricardo Evangelista.
Involved fees earner: Amílcar García – Basham, Ringe y Correa; Jeffrey Powell – Basham, Ringe y Correa; Luis Antonio Alvarez Cervantes – Basham, Ringe y Correa; Rodolfo Barreda – Basham, Ringe y Correa; Amilcar Peredo – Basham, Ringe y Correa; Ricardo Eloy Evangelista Garcia – Basham, Ringe y Correa; Sandra Seah – Bird & Bird; Sven-Michael Werner – Bird & Bird; Sarah Wang – Bird & Bird; Eef Van Emmerik – Bird & Bird; Jonathan Kao – Bird & Bird; Christine Yiu – Bird & Bird; Serena Du – Bird & Bird; Kathryn Edghill – Bird & Bird;
Clients: Sealed Air Corporation;