Charlotte, NC-based Sealed Air Corporation, a manufacturer of food and protective packaging solutions, has agreed to be acquired by private investment firm Clayton, Dubilier & Rice (CD&R) in an all-cash transaction valued at $10.3 billion. Sealed Air will no longer be listed on the New York Stock Exchange upon closing, which is expected mid-2026, pending stockholder approval, regulatory clearances and customer closing conditions.

Sealed Air stockholders will receive $42.15 in cash per share, representing a premium of 24% to Sealed Air’s 90-day volume-weighted average price as of Nov. 12.

Sealed Air’s brands include CRYOVAC brand food packaging, SEALED AIR brand protective packaging, LIQUIBOX brand liquids systems, AUTOBAG brand automated packaging systems and BUBBLE WRAP brand packaging. In 2024, Sealed Air generated $5.4 billion in sales and has approximately 16,400 employees who serve customers in 117 countries/territories. Its products service end markets that include fresh proteins, foods, fluids and liquids, medical and life science, eCommerce retail, logistics and omnichannel fulfullment, and industrials.

“After careful review of strategic alternatives over the past year, the board is confident that this transaction delivers significant value and is in the best interests of our stockholders and the company,” Sealed Air Chairman said in a Nov. 17 news release. “Furthermore, this transaction represents a realization of immediate and certain value for Sealed Air stockholders at a substantial premium and enables the company to execute its long-term strategic vision.”

Sealed Air’s headquarters will remain in Charlotte, NC as it becomes a privately held company.

“Today marks an inflection point in Sealed Air’s history and we look forward to embarking on this next phase of growth in partnership with CD&R,” said Dustin Semach, President and Chief Executive Officer of Sealed Air. “This transaction delivers significant and derisked value to Sealed Air stockholders while accelerating our ongoing transformation. CD&R’s partnership will enhance our ability to invest in growing our Food and Protective businesses while maintaining a customer-first approach. Through more rapid innovation, expanded capabilities and broader reach, we will create more value for our customers and more opportunities for our employees.”