ELMWOOD PARK, NJ — Sealed Air Corporation has announced that it has completed its previously announced acquisition of Diversey Holdings Inc., according to a press release.
Under the terms of the agreement, Diversey shareholders will receive $2.1 billion in cash and 31.7 million shares of Sealed Air common stock valued at $16.70 per share for a total consideration to shareholders of $2.6 billion, the release stated.
According to the release, the acquisition brings together two complementary, leading global organizations focused on protection.
Sealed Air now offers the most comprehensive portfolio of solutions and industry expertise in food safety and security, facility hygiene and product protection, the release noted.
"I am pleased to formally welcome Diversey''s leadership team and employees to Sealed Air," said William V. Hickey, president and chief executive officer (CEO) of Sealed Air.
"Today marks the beginning of an exciting new era of opportunity for Sealed Air, our employees and the customers we serve. We are now a global leader in protection with inventive solutions in food safety and security, facility hygiene and product packaging that protect what we eat and drink, where we go and the valuable goods we ship. We commit to deliver solutions that improve safety, efficiency and sustainability using our extensive infrastructure, world-class manufacturing principles, expanded research and development capabilities and the tremendous expertise of our global team. We are excited to bring forward innovative solutions that will create measurable value for our customers, enhance the quality of life for consumers and provide a cleaner and healthier environment for future generations," Hickey added.
Click here to read the complete release.