Sealed Air Corporation announced it has acquired Dry Lube Ltd. (DL) and its subsidiary Dry Lube Inc., a specialized, water-free conveyor lubrication technology and service provider for the food and beverage industry. Dry Lube’s technology enables brewing, beverage and dairy companies to perform critical conveyor belts lubrication without the use of water.
“The acquisition is aligned with our Change the Game strategy and accelerates our time to market for sustainable, innovative solutions,” said Karl R. Deily, President of Sealed Air’s Food Care Division. “For the majority of beverage companies, 20 percent of their water usage is related to lubrication and cleaning. Combined with our existing expertise, Dry Lube enables us to further reduce water usage and treatment costs, create cleaner and safer working environments, and improve operational efficiencies.”
Dry Lube was established in 2005 and is headquartered in Edinburgh, U.K. The company sells directly to customers in the United States and Europe and through distribution to the rest of the world.
Terms of the transaction were not disclosed. The acquisition closed in early December and is not material to Sealed Air’s financial results.