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.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Reliance to acquire assets of Kemrock Industries

MUMBAI, INDIA: Reliance Industries Ltd (RIL) said that it will acquire the assets of Vadodara-based (Gujarat) Kemrock Industries and Exports Ltd to en ...

Read more
Frutarom buys Israeli company Turpaz; its 7th acquisition this year

HERZLIYA, ISRAEL: Frutarom Industries Ltd (Frutarom) has signed an agreement for the purchase of 51 percent shares of Israeli company Turpaz Perfume a ...

Read more
AGCO closes purchase of Precision Planting from Monsanto affiliate

SAN FRANCISCO/DULUTH, US: AGCO Corporation has completed the purchase of Precision Planting LLC from The Climate Corporation, a subsidiary of Monsanto ...

Read more
Solvay, World Alliance for Efficient Solutions partner on clean energy

BRUSSELS, BELGIUM: Solvay SA said that it is joining the World Alliance for Efficient Solutions, created by Solar Impulse founder Bertrand Piccard, to ...

Read more
Covestro waterborne PU can reduce carbon footprint by half: Study

LEVERKUSEN, GERMANY: In a recent life-cycle assessment (LCA) study Covestro’s INSQIN – pure waterborne polyurethanes (PU) technology prove ...

Read more
Clariant to strengthen North American oil service sites

MUTTENZ, SWITZERLAND: Clariant announced a low single-digit million amount investment to strengthen two of its North American oil services sites in or ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X