Sealed Air Receives Clearance from European Commission on Diversey Acquisition
ELMWOOD PARK, N.J., Aug 02, 2011 (BUSINESS WIRE) -- Sealed Air Corporation ("Sealed Air") (NYSE: SEE) a leading provider of food and industrial system solutions, today announced that it received regulatory clearance from the European Commission under the European Union (EU) Merger Regulation for its proposed acquisition of Diversey Holdings, Inc. ("Diversey").
As previously announced on June 1, 2011, Sealed Air entered into a definitive agreement to acquire Diversey in a transaction valued at approximately $4.3 billion. The transaction is subject to the satisfaction of customary closing conditions as stated in our June 1, 2011 press release, including certain additional foreign regulatory approvals.
About Sealed Air
For over fifty years, Sealed Air has been a leading global innovator and manufacturer of a wide range of packaging and performance-based materials and equipment systems that serve an array of food, industrial, medical, and consumer applications. Operating in 52 countries, Sealed Air's international reach generated revenue of approximately $4.5 billion in 2010. With widely recognized brands such as Bubble Wrap® brand cushioning, Jiffy® protective mailers, Instapak® foam-in-place systems and Cryovac® packaging technology, Sealed Air continues to identify new trends, foster new markets, and deliver innovative solutions to its customers. For more information about Sealed Air, please visit the Company's web site at http://www.sealedair.com.
Diversey, Inc. is committed to a cleaner, healthier future. Its products, systems and expertise make food, drink and facilities safer and more hygienic for consumers and for building occupants. With sales into more than 175 countries, Diversey is a leading global provider of commercial, cleaning, sanitation and hygiene solutions. The company serves customers in the building management, lodging, food service, retail, health care, and food and beverage sectors. Diversey is headquartered in Sturtevant, Wisconsin, USA. To learn more, visit http://www.diversey.com.
SOURCE: Sealed Air Corporation
Sealed Air Corporation
Amanda Butler, 201-791-7600