Sealed Air Corporation has today announced that it has entered into a definitive agreement to sell its Diversey Care division and the food hygiene and cleaning businesses within its Food Care Division (together ‘New Diversey’) to global private investment firm Bain Capital Private Equity, in a deal worth approximately $3.2billion.

New Diversey, which will be a leading hygiene and cleaning solutions company that integrates chemicals, floorcare machines, tools and equipment with a wide range of technology-based services, food safety services and water and energy management, will continue to employ around 8,600 people globally.

Speaking of the announcement, Jerome Peribere, President and CEO of Sealed Air, said: “We are pleased that New Diversey has a strong partner to support future growth initiatives and drive further expansion. Diversey Care and its related hygiene business has built an impressive innovation pipeline that includes the Internet of Clean, robotics and AHP disinfection technologies, revamped its go-to-market strategy and significantly improved profitability.”

Ken Hanau, a Managing Director at Bain Capital Private Equity, added: “Diversey has a long track record of leadership in the hygiene and cleaning solutions market on a global basis.

“We are excited to partner with the talented team at Diversey to grow across key market verticals and geographies while investing in innovative hygiene solutions. Bain Capital’s integrated global platform and strong growth orientation are well aligned with the strategic vision for Diversey.”

The sale of New Diversey to Bain Capital is expected to close in the second half of 2017, and is subject to certain regulatory approvals and customary closing conditions.