Private equity firm Olympus Partners has agreed to sell liquid packaging manufacturer, Liquibox, to packaging solutions company, Sealed Air Corporation.

Liquibox provides bag-in-box solutions and fluid dispensing fitments to end markets including consumer products and food and beverage.

Ken Swanson, CEO of Liquibox, commented: “Liquibox has thoroughly enjoyed having Olympus Partners as our financial sponsor, strategic sounding board, and trusted advisor. Their support for growth both through internal capital projects as well as acquisitions has been critical to our success.”

Under the ownership of Olympus, Liquibox has grown significantly, including with the opening of a 140,000-square-foot facility in Madrid, Spain. The company employs around 1,300 people across North America, Europe, Africa, Asia and Australia.

Manu Bettegowda, managing partner at Olympus, added: “We are happy for Liquibox to become part of the broader [Sealed Air] platform and believe this is a transaction wher both organisations will benefit from the strategic combination”.

Financial terms of the deal were not disclosed.