Bubble Wrap is about to get more expensive.
On Monday morning, Charlotte-based Sealed Air announced a 4 percent price hike for the majority of its North American division packaging products. The new prices are effective March 1.
Sealed Air said in a statement that prices are going up because of the rising costs of raw materials like resin, as well as in response to an increase in other costs including labor, utilities and freight.
Sealed Air, which is in the midst of moving its headquarters to Charlotte from New Jersey, has said that the boom in online shopping presents major growth opportunities in packaging products.
Kenneth Chrisman, president of Sealed Air’s Product Care division, said the company has taken “significant actions” to offset prices increases over the last few years.
“However, market forces require that we take action now to counter these inflationary increases, including the recent rise in petroleum based input cost,” Chrisman said.
The company said the 4 percent price increase affects a slew of products, including NewAir I.B. Film, Bubble Wrap IB Film, Fill-Air Inflatables Film, Instapak Film & Dispenser Solution, Bubble Wrap Air Cellular Packaging and Jiffy & Jiffy TuffGard Mailers, among others.
Katherine Peralta: 704-358-5079, @katieperalta
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