Sealed Air sells Diversey Japan

Sealed Air Corporation has entered into an agreement with the Carlyle Group for Carlyle to acquire Diversey Japan for ¥30 billion (equivalent to US$377 million).

Diversey Japan is a provider of cleaning, sanitation and hygiene products and solutions, mainly to institutional customers in the Japanese market.

“The determination to sell Diversey Japan follows a strategic portfolio review aimed at focusing on higher growth countries in which our portfolio offers the greatest potential,” said William V Hickey, Sealed Air’s Chair of the Board and CEO.

“We are very committed to our strategy of growing our presence in food safety and security, facility hygiene and product protection globally. We intend to continue our close relationship with Diversey Japan as we collaborate in areas such as product development, procurement and providing quality service to customers.”

The transaction is expected to be completed by the end of 2012.