Deloitte Corporate Finance acted as exclusive financial advisor to Austin Foam Plastics, a provider of protective packaging solutions, in its sale to Sealed Air, a global packaging solutions provider.
Founded in 1978 and headquartered in Pflugerville, TX, AFP designs, engineers, produces, manufactures and sources a wide range of high-quality protective packaging products, including fabricated foam, corrugated boxes, molded pulp products, wooden crates, combination solution and other ancillary products.
“With the acquisition of AFP, coupled with our 2017 acquisition of Fagerdala, Sealed Air will further expand its capability to provide fabricated designs directly to customers in markets such as electronics and transportation,” said Kenneth P. Chrisman, president of Sealed Air’s Product Care division.
“The combination with Sealed Air will further AFP’s strategy of expanding its presence in global markets while continuing to enhance its value-added protective packaging offerings,” said Carlos Abello, former executive director at Austin Foam Plastics. “Deloitte’s guidance throughout the transaction process was key to achieving a favorable outcome for AFP’s shareholders.”
“Packaging sector M&A has been very active in recent years, and we’re seeing a very healthy uptick in deal volume and value in the protective packaging space in particular,” said Will Frame, advisory principal and industrials head, Deloitte Corporate Finance.
