About Sealed Air

Sealed Air Corporation is a leading global provider of packaging solutions that integrate sustainable, high-performance materials, automation, equipment and services. The company designs, manufactures and delivers packaging solutions that preserve food, protect goods and automate packaging processes. The company delivers its packaging solutions to an array of end markets including fresh proteins, foods, fluids and liquids, medical and life science, e-commerce retail, logistics and omnichannel fulfillment operations, and industrials. In February 2023, the company acquired LB Holdco, Inc., the parent company of Liquibox, Inc. (collectively, Liquibox) and expanded its product offerings to liquid packaging and dispensing solutions for food, beverage, consumer goods and industrial end markets. The company’s portfolio of solutions includes leading brands, such as CRYOVAC brand food packaging, LIQUIBOX brand liquids systems, SEALED AIR brand protective packaging, AUTOBAG brand automated packaging systems and BUBBLE WRAP brand packaging. Strategy The company’s strategy focuses on creating long-term, value-added partnerships with its customers to advance sustainable, automated and digital packaging solutions, leveraging its industry-leading expertise in materials, automation systems, engineering and technologies. The company’s strategy is to accelerate growth by relentless focus on productivity. Segments The company operates through two segments, Food and Protective. Food Food solutions are sold to food processors in fresh red meat, smoked and processed meats, poultry, seafood, plant-based protein, fluids and liquids and cheese markets worldwide. Food offers integrated packaging materials and automated equipment solutions to increase food safety, extend shelf life, reduce food waste, and automate processes. Food solutions are utilized by food service businesses (such as restaurants and entertainment venues) (food service) and food retailers (such as grocery stores and supermarkets) (food retail), among others. Solutions serving the food service market include products, such as barrier bags and pouches, and are primarily marketed under the CRYOVAC trademark and other highly recognized trade names including CRYOVAC brand Barrier Bags, CRYOVAC brand Form-Fill-Seal Films, CRYOVAC brand Auto Pouch Systems and LIQUIBOX brand liquids systems. Solutions serving the food retail market include products, such as barrier bags, film, and trays, and are primarily marketed under the CRYOVAC trademark and other highly recognized trade names including CRYOVAC brand Grip & Tear, CRYOVAC brand Darfresh, OptiDure, Simple Steps, and CRYOVAC brand Barrier Bags. The company’s solutions, which include high-performance materials, equipment, and services, are designed to extend shelf life and enhance food safety. Food applications are largely sold direct to customers by the company’s sales, marketing and customer service personnel throughout the world. Sales to governments, or government contracts, are not material to the company’s Food segment. Protective Protective packaging solutions are utilized across many global markets to protect goods during transit and are especially valuable to e-commerce, consumer goods, pharmaceutical and medical devices and industrial manufacturing. With automated equipment, high-performance materials, and services, the company’s solutions are designed to increase its customers' packaging velocity, minimize packaging waste, reduce labor dependencies and address dimensional weight challenges. The company’s product breadth combined with its global scale and reach helps support its customers' needs for sustainability, performance excellence, consistency and reliability of supply wherever they operate around the world. Protective solutions are marketed under SEALED AIR brand, BUBBLE WRAP brand, AUTOBAG brand and other highly recognized trade names and product families, including BUBBLE WRAP brand inflatable packaging, SEALED AIR brand performance shrink films, AUTOBAG brand bagging systems, Instapak polyurethane foam packaging solutions and Korrvu suspension and retention packaging. Protective solutions are sold through a strategic network of distributors as well as directly to end customers, including, but not limited to, fabricators, original equipment manufacturers, contract manufacturers, logistics partners and e-commerce/fulfillment operations. In 2023, approximately 50% of the company’s Protective sales were sold through distributors. Intellectual Property The company is the owner or licensee of approximately 2,540 U.S. and foreign patents and patent applications, and approximately 2,360 U.S. and foreign trademark registrations and trademark applications that relate to its products, manufacturing processes and equipment. Seasonality The company’s consolidated results of operations have trended directionally the same as its net sales seasonality. Net sales in the company’s Food segment have tended to be slightly lower in the first quarter and slightly higher towards the end of the third quarter through the fourth quarter, due to holiday events, and net sales in its Protective segment have also tended to be slightly lower in the first quarter and higher in the mid-third quarter and through the fourth quarter due to the holiday shopping season. In 2023, the company experienced slightly higher net sales in the second half of the year as compared to the first half which was partially due to the impact of foreign currency translation and the timing of the Liquibox acquisition. The company’s consolidated results of operations trended directionally the same as its net sales seasonality with slightly higher results of operations in the second half of the year (year ended December 31, 2023). Research and Development The company’s research and development expenses included $97million in 2023. Compliance with Government Regulations The company is subject to various federal, state, local and foreign laws and regulations that regulate products manufactured and sold by the company for controlling microbial growth on humans, animals and processed foods. In the U.S., these requirements are generally administered by the U.S. Food and Drug Administration (FDA). The company is subject to various federal, state, local and foreign laws and regulations which ensure safe working conditions for its employees. In the U.S., these requirements are generally administered by the U.S. Occupational Safety and Health Administration (OSHA). History Sealed Air Corporation was founded in 1960. The company was incorporated in Delaware in 1960.