Sealed Air to Buy Diversey for $4.3 Billion

Sealed Air (Elmwood Park, NJ) has agreed to acquire Diversey (Sturtevant, WI) for $4.3 billion. Diversey, which was known as JohnsonDiversey until last year, is privately owned and controlled by members of the Johnson family and private equity firm Clayton, Dubilier & Rice (CD&R; New York). Upon closing of the transaction, Diversey shareholders are expected to own approximately 15% of Sealed Air common stock. The deal is expected to close later this year, pending regulatory approval. Diversey is a global provider of cleaning, sanitization and hygiene...

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