Producer
Sealed Air Corporation (Cryovac)
Charlotte, North Carolina-based food and protective packaging company (NYSE: SEE through April 2026). Cryovac division acquired from W.R. Grace in 1998 ($4.9B). 2024 revenue: $5.39B; ~16,400 employees; 200+ global locations. In 2022, acquired Charter NEX Films for ~$1.4B, adding major US blown film capacity. **April 2026: Sealed Air was taken private by Clayton, Dubilier & Rice (CD&R)** in a go-private transaction. Products for frozen food: Cryovac FFS (Form-Fill-Seal) films for VFFS/HFFS lines, vacuum skin packaging (VSP) films, shrink polyolefin multilayer films — all using LLDPE sealant layers optimized for low-temperature seal integrity. Charter NEX subsidiary (Superior WI, 7 US facilities, >200M lbs/yr PE film) provides upstream blown film manufacturing for Sealed Air's food packaging systems.
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Cryovac Food Packaging Films
55%Protective & Industrial Packaging
30%Liquibox Liquid Packaging
10%Automation & Equipment
5%
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Did you know2024
Sealed Air Corporation invented Bubble Wrap in 1960 (Alfred Fielding and Marc Chavannes, originally conceived as textured wallpaper). Bubble Wrap accounted for significant brand value for decades. The same company that invented the bubble packing material protecting consumer goods in shipping also produces Cryovac — the world's leading frozen food packaging film brand for IQF seafood, meat, and frozen convenience foods. The protective packaging division (Bubble Wrap) and the food packaging division (Cryovac) have been Sealed Air's two core business units for most of its history. Most consumers have never heard of Cryovac but encounter it every time they buy fresh chicken or frozen vegetables at a supermarket — the plastic tray-wrapped chicken breast and the frozen pea bag are Sealed Air products. The Bubble Wrap brand is widely known; the film keeping food safe is invisible.
Wikipedia ↗Incident2026
Sealed Air Corporation — maker of Cryovac frozen food packaging film and Bubble Wrap — was taken private by Clayton, Dubilier & Rice (CD&R) in April 2026, delisting from the NYSE. This removed one of the two major specialized frozen food film companies from public market scrutiny and reporting. CD&R is the same private equity firm that recently acquired Chemours' Aramids business (via the Arclin vehicle). The Sealed Air go-private follows a decade of strategic repositioning: divesting the Diversey cleaning products business (2017, $3.2B), acquiring Liquibox (2023, $1.15B), and acquiring Charter NEX Films (2022, $1.4B). A PE-backed Sealed Air may pursue further consolidation in the food packaging film space or asset monetization — either scenario would significantly impact the competitive structure of frozen food packaging film supply.
Wikipedia ↗Origin2024
Sealed Air Corporation was founded in 1960 in Saddle Brook, New Jersey when Alfred Fielding and Marc Chavannes accidentally invented Bubble Wrap while trying to create textured wallpaper. They sealed two shower curtains together and created the trapped-air cushioning material that would become the world's most recognizable packaging product. The company acquired the Cryovac food packaging division from W.R. Grace in 1998 for $4.9 billion -- the largest acquisition in Sealed Air's history and a transaction that transformed it from a protective packaging specialty company into a food packaging company. The W.R. Grace acquisition came with asbestos liability complications that required Sealed Air to set up a settlement trust. The resulting company has operated two seemingly unrelated businesses under one roof: the product that protects your Amazon delivery (Bubble Wrap) and the film that wraps your supermarket chicken breast (Cryovac). CD&R's April 2026 take-private removed both from public market visibility simultaneously.
Sealed Air Corporation ↗