Sealed Air expands into chem cleaning market with $4.3bn acquisition

01 June 2011 14:03  [Source: ICIS news]

HOUSTON (ICIS)--Sealed Air has agreed to acquire Diversey for $4.3bn (€3.0bn) to expand into the chemical cleaning and sanitisation industry, the US packaging firm said on Wednesday.

Wisconsin-based Diversey provides cleaning, sanitisation 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, Sealed Air said.

"With Diversey, we will expand our footprint beyond specialty packaging solutions by gaining entry into a $40bn+ chemical cleaning and hygiene industry that has attractive fundamentals and is already in our value chain,” said Sealed Air CEO William Hickey.

Diversey is privately owned. It had sales of $3.1bn last year and employs more than 10,000 people worldwide.

($1 = €0.69)

By: Stefan Baumgarten
+1 713 525 2653

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