Bain Buys Sealed Air Hygiene and Cleaning Unit for $3.2B

Bain Capital Private Equity is acquiring Sealed Air’s “New Diversey” business, including the Diversey Care division and the food hygiene and cleaning businesses from its Food Care division, for $3.2 billion, a Sealed Air press release announced Monday.

“We are pleased that New Diversey has a strong partner to support future growth initiatives and drive further expansion. Diversey Care and its related hygiene business has built an impressive innovation pipeline that includes the Internet of Clean, robotics, and AHP disinfection technologies,” said Jerome A. Peribere, president and chief executive officer of Sealed Air. “New Sealed Air, a leading provider of food, product, and medical packaging solutions, will continue to focus on accelerating profitable growth and generating strong cash flow through end market opportunities and the global adoption of new products and solutions.”

Sealed Air said 8600 workers currently employed with New Diversey will retain their positions. According to the Charlotte, NC-based company, Diversey Care and Sealed Air’s food hygiene business brought in $2.6 billion in 2016.

“We are excited to partner with the talented team at Diversey to grow across key market verticals and geographies while investing in innovative hygiene solutions. Bain Capital’s integrated global platform and strong growth orientation are well aligned with the strategic vision for Diversey,” said Ken Hanau, a managing director at Bain, in a statement.

The firms expect the transaction to close in the latter half of 2017.

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