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Sealed Air sells its New Diversey division for $3.2 billion

Sealed Air Corporation, manufacturer of packaging materials and systems, announced the $3.2 billion sale of its New Diversey division to the private investment company Bain Capital Private Equity. It reorganizes the Diversey Care division which includes the group's professional cleaning solutions, as well as food hygiene activities.

An agreement has just been signed between Sealed Air Corporation, a food solutions and packaging materials supplier, and the investment firm Bain Capital Private Equity, which bought the group's New Diversey division for $3.2 billion. This includes cleaning materials and chemicals, as well as the products dedicated to promote food hygiene. In particular, this operation would help support the growth and development of this unit.

Note that the Sealed Air’s board of Directors authorized an increase in the share repurchase program by an additional $1.5 billion. The transaction is expected to be completed in the second half of 2017.

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