Sealed Air Corporation

ticker: SEE step: 01 generated: 2026-05-13 source: quick-research

Sealed Air Corporation (SEE) — Business Overview

Business Description

Sealed Air Corporation is a global packaging solutions company that designs, manufactures, and delivers materials, automation, equipment, and services to preserve food, protect goods, and automate packaging workflows. The company operates through two segments — Food and Protective — serving customers in 117 countries with ~16,400 employees. Note: Sealed Air agreed in 2025 to be acquired by Clayton, Dubilier & Rice (CD&R) in an all-cash deal at $42.15/share ($10.3B enterprise value), expected to close mid-2026.

Revenue Model

Sealed Air generates revenue from the sale of specialty packaging materials (consumables), automated packaging equipment (capital), and related services. Consumable materials (films, pouches, foam, air cushion) provide recurring, high-margin revenue; equipment sales often serve as razors that drive blade-style consumable pull-through. The Food segment (~55% of revenue) commands higher margins than Protective (~45%).

Products & Services

• CRYOVAC® — vacuum-sealed food packaging (fresh proteins, case-ready, fluids/liquids)
• BUBBLE WRAP® — iconic air-filled protective packaging
• AUTOBAG® — automated bagging and packaging systems for fulfillment
• LIQUIBOX® — liquid packaging solutions (bag-in-box, spouted pouches)
• SEALED AIR® — foam and specialty protective cushioning materials

Customer Base & Go-to-Market

Customers span fresh protein processors (beef, poultry, seafood), food service operators, e-commerce logistics and fulfillment centers, industrial manufacturers, and medical/life science companies. Sealed Air sells direct through a global salesforce supported by distribution partners; multi-year supply agreements with large food producers provide revenue visibility.

Competitive Position

Sealed Air is the global leader in vacuum food packaging (CRYOVAC is the industry standard in fresh proteins) and holds a strong position in e-commerce protective packaging. Core moats include brand recognition, customer switching costs (equipment integration), and proprietary film technology. Competitors include Amcor, Berry Global, Pregis, and Ranpak in protective; Bemis and ULMA in food.

Key Facts

• Founded: 1957 (Bubble Wrap), incorporated as Sealed Air 1960
• Headquarters: Elmwood Park, NJ (planned Miami relocation under CD&R deal)
• Employees: ~16,400
• Exchange: NYSE
• Sector / Industry: Materials / Packaging
• Market Cap: ~$5.5B (at $42.15/share acquisition price; ~130M shares)

ticker: SEE step: 04 generated: 2026-05-13 source: quick-research

Sealed Air Corporation (SEE) — Financial Snapshot

Income Statement Summary

FY2025 net sales: $5.36B (essentially flat vs. FY2024)

Cash Flow & Balance Sheet (FY2024)

Key Ratios (approximate)

• P/E: ~12x (based on $42.15 acquisition price) | EV/EBITDA: ~10x | FCF Yield: ~9%
• Revenue Growth (FY2024): -2% | FCF Margin: ~9%

Growth Profile

Sealed Air has experienced modest revenue declines since peaking at ~$5.6B in 2022, driven by volume softness in Protective (e-commerce normalization post-COVID) and modest Food segment headwinds. The company reorganized into Food and Protective segments in Q4 2024 to sharpen focus. Food is growing low single digits; Protective is stabilizing after multi-year volume declines, with management citing first positive volume inflection since 2021 in 2025.

Forward Estimates

• FY2026 revenue: ~$5.4–5.5B (flat to slight growth), with the CD&R take-private expected to close mid-2026
• FY2026 adj. EPS: not publicly guided given pending acquisition
• Acquisition price: $42.15/share all-cash; CD&R deal announced 2025, closing mid-2026