Sealed Air Corporation has announced sale of Diversey Care division and the food hygiene and cleaning businesses within its Food Care Division (together ‘New Diversey’) to global private investment firm Bain Capital Private Equity in approximately $3.2billion deal.
New Diversey, which will be a leading hygiene and cleaning solutions company that integrates chemicals, floorcare machines, tools and equipment with a wide range of technology-based services, food safety services and water and energy management, will continue to employ around 8,600 people globally.
Diversey Care and its related hygiene business has built an impressive innovation pipeline that includes the Internet of Clean, robotics and AHP disinfection technologies, revamped its go-to-market strategy and significantly improved profitability.
The sale of New Diversey to Bain Capital is expected to close in the second half of 2017, and is subject to certain regulatory approvals and customary closing conditions.