Sealed Air completes sale Diversey division Bain Capital

Sealed Air completes sale of Diversey division to Bain Capital

5:51 AM, 7th September 2017
Sealed Air logo

CHARLOTTE, US: Sealed Air Corporation (SEE) has completed the sale of its Diversey care division and the food hygiene and cleaning business within its food care division (together with New Diversey) to Bain Capital Private Equity for approximately $3.2 billion.

“We will use the proceeds of the sale to repay debt, maintain our net leverage ratio in the range of 3.5 to 4.0 times, repurchase shares and invest in our core business and targeted M&A activity. Sealed Air is well positioned for profitable growth and strong cash flow. We will be driven by a proven business model, enhanced strategic focus and improved ability to optimize capital allocation and invest in new disruptive technologies,” said Jerome Peribere, Sealed Air president and CEO.

“Sealed Air will continue to be a leading knowledge-based business focused on food, product and medical packaging solutions that deliver waste reduction, product security, improved efficiency of our customers’ operations and make a positive impact by conserving resources,” added Peribere.

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