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Sealed Air Corp. (NYSE: SEE), Charlotte, NC, has agreed to sell its Diversey Care division and the food hygiene and cleaning business within its food care division, New Diversey, to private investment firm Bain Capital Private Equity for $3.2 billion.
New Diversey employs 8,600 people globally. Diversey Care and the related food hygiene businesses combined generated net sales of $2.6 billion in 2016.
The acquisition includes a formal offer to acquire certain of Diversey's business in France and the Netherlands, which may be accepted following Works Council consultation.