Sealed Air Corp. announced that it has entered into an agreement with private equity firm The Carlyle Group in which Carlyle will acquire Diversey G.K. (Diversey Japan) for about $377 million, according to an Oct. 30 press release.
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Diversey Japan, which sells cleaning, sanitation and hygiene products and solutions to institutional customers in the Japanese market, recorded 12-month sales of about $321 million as of Sept. 30, 2012.
The transaction is expected to be completed in the fourth quarter of 2012.
Diversey Japan will now be accounted for as a discontinued operation as of Sept. 30, 2012.
Sealed Air generated revenue of $8.1 billion in 2011, and has about 26,300 employees who serve customers in 175 countries.
In June, Sealed Air Corp. and Ecovative Design completed an agreement to accelerate the production, sales and distribution of Ecovative’s EcoCradle Mushroom Packaging — a new technology for environmentally responsible packaging materials made from agricultural byproducts and mycelium, or “mushroom roots.”
Jim Tierney ([email protected]) is a senior writer for Multichannel Merchant. You can connect with him on Twitter (TierneyMCM) and LinkedIn, or call him at 203-358-4265.