Sealed Air Corp. and Diversey Holdings, Inc. have announced that they have entered into a definitive agreement under which Sealed Air will acquire Diversey in a transaction valued at $4.3 billion.
Diversey provides cleaning, sanitization and hygiene solutions to industrial and retail customers in the food and beverage, food service, health care, and lodging sectors, as well as to building service contractors worldwide. In 2010, it generated net sales of $3.1 billion.
“This transaction represents a strategic growth opportunity that leverages Sealed Air’s core competencies and positions our company to further capitalize on the megatrends that drive both businesses,” says President/CEO William Hickey. “With Diversey, we will expand our footprint beyond specialty packaging solutions by gaining entry into a $40+ billion chemical cleaning and hygiene industry that has attractive fundamentals and is already in our value chain.”