Sealed Air Acquires Virox Technologies’ Accel Brand and Healthcare Businesses in the USA and Canada
July 2, 2014 at 4:31 PM EDT
ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Jul. 2, 2014--
Sealed Air Corporation (NYSE:SEE) announced today that it has completed
an acquisition of Virox Technologies’ Accel® brand and its related
healthcare businesses in the United States and Canada.
The acquired assets include the brand, the current healthcare business
and existing customer relationships. Through its Diversey Care business,
Sealed Air has had a long standing exclusive, global relationship with
Virox and this new arrangement will enhance Diversey Care’s marketing of
Virox’s proprietary Accelerated Hydrogen Peroxide® (AHP®) technology. In
addition to increased focus on healthcare surface cleaning and
disinfection applications, Diversey Care continues to provide all the
benefits of AHP to the broader institutional markets like Education,
Government, Facility Management, Retail and Food Service.
“We see a unique opportunity to leverage Virox’s patented technology and
Professional and Technical Services (PTS) model around the world to
deliver thought leadership in the cleaning and disinfecting arena,” said
Ilham Kadri, President of Sealed Air’s Diversey Care Division. “Their
PTS model leveraged with our sales coverage, application expertise, and
global distribution will create an environment for the success of
our AHP- based solutions in the Oxivir® brand globally.”
AHP is a patented, synergistic blend of commonly used, safe ingredients,
that when combined with low levels of hydrogen peroxide dramatically
increase its disinfecting and cleaning ability. It provides the unique
benefits of speed and efficacy, while being gentle on people, surfaces
and the environment.
Virox CEO, Randy Pilon states, “Virox has a long standing relationship
with Diversey Care and our combined healthcare business now puts
Diversey in a leading position for knowledge-based solutions in surface
disinfection in the healthcare sector in Canada. The plan is to
replicate this success in the United States and become the infection
prevention resource to healthcare professionals so that all the sectors
supported by Diversey Care will feel confident in choosing their
infection prevention solutions.”
Financial terms of the transaction were not disclosed. Sealed Air does
not expect the transaction to be material to its consolidated financial
position or results of operations.
About Sealed Air
Sealed Air Corporation creates a world that feels, tastes and works
better. In 2013, the Company generated revenue of approximately $7.7
billion by helping our customers achieve their sustainability goals in
the face of today’s biggest social and environmental challenges. Our
portfolio of widely recognized brands, including Cryovac® brand food
packaging solutions, Bubble Wrap® brand cushioning and Diversey™
cleaning and hygiene solutions, ensures a safer and less wasteful food
supply chain, protects valuable goods shipped around the world, and
improves health through clean environments. Sealed Air has approximately
25,000 employees who serve customers in 175 countries. To learn more,
visit www.sealedair.com.
About Virox Technologies, Inc.
Virox, founded in 1998 is headquartered in Ontario, Canada and is solely
focused on the use of Hydrogen Peroxide as a sustainable, effective
antimicrobial solution for hands, surfaces and devices, displacing
legacy chemistries that are largely ineffective against targeted
pathogens and can be harsh to the user and the environment. Virox has 7
global patents issued, with as many pending, and licenses the portfolio
to global leaders in infection prevention across a variety of sectors
including consumer, institutional, dental, animal health, agriculture
and food processing.
Website Information
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in the "Investor Relations" section. We use this website as a means of
disclosing material, non-public information and for complying with our
disclosure obligations under Regulation FD. Accordingly, investors
should monitor the Investor Relations section of our website, in
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Forward-Looking Statements
Statements in this press release may be “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995 concerning our business, consolidated financial condition and
results of operations. These statements include comments as to future
events that may affect Sealed Air, which are based upon management’s
current expectations and are subject to uncertainties, many of which are
outside Sealed Air’s control. Forward-looking statements can be
identified by such words as “anticipates,” “expects,” “believes,”
“plan,” “could,” “estimate,” “will” and similar expressions. A variety
of factors may cause actual results to differ materially from these
expectations, including economic conditions affecting packaging
utilization, changes in raw material costs, currency translation
effects, and legal proceedings. For more extensive information, see
“Risk Factors” and “Cautionary Notice Regarding Forward-Looking
Statements,” which appear in our most recent Annual Report on Form 10-K,
as may be revised and updated from time to time by our Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K, as filed with the
Securities and Exchange Commission. These reports are available on the
Securities and Exchange Commission’s website at www.sec.gov
or our Investor Relations home page at http://ir.sealedair.com.
Information on Sealed Air’s website is not incorporated into, and does
not form a part of, this press release. Sealed Air does not undertake
any obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date.
Source: Sealed Air Corporation
Sealed Air Corporation
Investor:
Lori Chaitman, 201-703-4161
or
Media:
Ken
Aurichio, 201-703-4164