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Sealed Air makes another acquisition
CHARLOTTE (From news reports) -- An affiliate of Sealed Air Corp. has acquired a commercial printing operator on Grand Island, New York. Terms for the business sale, which involves a unit of R.R. Donnelley & Sons Co., were not disclosed. According to documents filed with the Erie County Clerk, Cryovac LLC paid $4.1 million for the 117,355-square-foot Donnelley building at 300 Lang Boulevard in Grand Island, which is near Buffalo. Cryovac is an affiliate of Sealed Air. The building was constructed in 1979 for Moore Business Forms. It was sold in 2010 to Chicago-based R.R. Donnelley. Pam Davis, Sealed Air senior global communications manager, confirmed the deal by the publicly traded companies. "Sealed Air acquired the existing facility and lab from R.R. Donnelley & Sons to support its future growth and to enhance services for customers," Davis said in an email to Buffalo Business First, a CBJ sister publication. "There are currently no plans to change the number of employees at the facility." R.R. Donnelley has 120 workers in Grand Island, and the facility produced revenue of $20 million from lucrative printing contracts with such retailers as Pottery Barn. Of the 120 employees, 36 work directly for Sealed Air. This marks a second acquisition this month for Sealed Air, is known for packaging products such as Bubble Wrap. The company announced May 1 that it has signed a definitive agreement to purchase Ohio-based Automated Packaging Systems for $510 million on a cash and debt-free basis. **********
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