Sealed Air, the Fortune 500 company that broke ground on its Charlotte headquarters in June, plans to sell its European food trays business to a European food packaging solutions provider called Faerch Plast A/S.
The sale will include Sealed Air’s manufacturing facilities in Poole, U.K., and Buñol, Spain, Bubble Wrap maker Sealed Air said in a statement this week.
Terms of the deal were not disclosed. Last year, Sealed Air’s European food trays business generated about $71 million in sales.
“We want to ensure that our resources are dedicated to support our core businesses and to drive the development of disruptive technologies that will accelerate our growth opportunities,” said Sealed Air President and Chief Executive Officer Jerome Peribere.
Other recent Sealed Air deals include the sale of the company’s North American foam trays and absorbent pads business in April, and the purchase of a French packaging equipment company called B+ Equipment in August.
Sealed Air has said it plans to finish moving into its new headquarters at LakePointe Corporate Center, near Charlotte Douglas International Airport, in early 2017. By that time, it expects to have a workforce of 1,262, with local hires composing about half.