Færch Plast has acquired Sealed Air's food tray business in Europe in order to expand its packaging portfolio.
The Danish firm will be taking over Sealed Air's manufacturing units at Poole in the UK and Buñol in Spain, known as Sealed Air and Sealed Air Buñol respectively, along with associated commercial activities.
The UK and Spanish plants have around 250 individuals under employment and generate a combined annual revenue of around kr350m ($52.6m).
Færch Plast president and CEO Lars Gade Hansen said: "We are impressed by the extensive product portfolio at Sealed Air Poole and Buñol, and we believe the combination with Færch Plast to be an excellent opportunity for both parties, providing an even stronger foundation to deliver a broad, high-quality product range to our customers.
"The reputation and image of Sealed Air's European tray activities are impressive."
The deal entitles the company to take over the Cryovac food packaging brand, which chiefly offers solutions for fresh meat and skin pack sector.
Sealed Air Food Care Europe vice-president Jonathon Durnford said: "Sealed Air is committed to working with Færch Plast to ensure that our customers have the best in class range of trays and lidding films.
"In the near future, we look forward to expanding our portfolio to include ovenable and retort film solutions. We will work closely with Færch Plast during the transition so that it can continue to maintain quality and supply standards, while Sealed Air continues to innovate for a broader market offering in future years."
The acquisition follows another deal this year, under which the Danish packaging firm had taken over UK-based Anson Packaging
The acquisitions are in line with the firm's expansion strategy announced in April, under which, it looks to extend its portfolio across Australia, New Zealand, the US, Canada, South Africa, the Middle East and Israel.
Image: Sealed Air's food tray business offers high-quality packaging solutions for fresh meat, salad, fruit and food service. Photo: courtesy of Færch Plast.