The companyconfirmed yesterday that it had sealed the US$4.3bn takeover of global cleaning and sanitation company.
The takeover had made it a worldwide leader in food safety and processing hygiene, said Sealed Air.
The move means that firm can provide more and better solutions for the food processing sector in terms of sanitation and safety, as well as scaling up R&D resources, technologies and growth initiatives across locations, sectors and customers, it said.
Under the terms of the agreement, Diversey shareholders will receive $2.1bn in cash and 31.7m shares of Sealed Air common stock valued.
“We are now a global leader in protection with inventive solutions in food safety and security, facility hygiene and product packaging that protect what we eat and drink, where we go, and the valuable goods we ship,” said company president and CEO William V. Hickey, President and Chief Executive Officer.