Sealed Air Acquires Virox Technologies’ Accel Brand and Healthcare Businesses in the USA and Canada
July 02 2014 - 4:30PM
Business Wire
Sealed Air Corporation (NYSE:SEE) announced today that it has
completed an acquisition of Virox Technologies’ Accel® brand and
its related healthcare businesses in the United States and
Canada.
The acquired assets include the brand, the current healthcare
business and existing customer relationships. Through its Diversey
Care business, Sealed Air has had a long standing exclusive, global
relationship with Virox and this new arrangement will enhance
Diversey Care’s marketing of Virox’s proprietary Accelerated
Hydrogen Peroxide® (AHP®) technology. In addition to increased
focus on healthcare surface cleaning and disinfection applications,
Diversey Care continues to provide all the benefits of AHP to the
broader institutional markets like Education, Government, Facility
Management, Retail and Food Service.
“We see a unique opportunity to leverage Virox’s patented
technology and Professional and Technical Services (PTS) model
around the world to deliver thought leadership in the cleaning and
disinfecting arena,” said Ilham Kadri, President of Sealed Air’s
Diversey Care Division. “Their PTS model leveraged with our sales
coverage, application expertise, and global distribution will
create an environment for the success of our AHP- based
solutions in the Oxivir® brand globally.”
AHP is a patented, synergistic blend of commonly used, safe
ingredients, that when combined with low levels of hydrogen
peroxide dramatically increase its disinfecting and cleaning
ability. It provides the unique benefits of speed and efficacy,
while being gentle on people, surfaces and the environment.
Virox CEO, Randy Pilon states, “Virox has a long standing
relationship with Diversey Care and our combined healthcare
business now puts Diversey in a leading position for
knowledge-based solutions in surface disinfection in the healthcare
sector in Canada. The plan is to replicate this success in the
United States and become the infection prevention resource to
healthcare professionals so that all the sectors supported by
Diversey Care will feel confident in choosing their infection
prevention solutions.”
Financial terms of the transaction were not disclosed. Sealed
Air does not expect the transaction to be material to its
consolidated financial position or results of operations.
About Sealed Air
Sealed Air Corporation creates a world that feels, tastes and
works better. In 2013, the Company generated revenue of
approximately $7.7 billion by helping our customers achieve their
sustainability goals in the face of today’s biggest social and
environmental challenges. Our portfolio of widely recognized
brands, including Cryovac® brand food packaging solutions, Bubble
Wrap® brand cushioning and Diversey™ cleaning and hygiene
solutions, ensures a safer and less wasteful food supply chain,
protects valuable goods shipped around the world, and improves
health through clean environments. Sealed Air has approximately
25,000 employees who serve customers in 175 countries. To learn
more, visit www.sealedair.com.
About Virox Technologies,
Inc.
Virox, founded in 1998 is headquartered in Ontario, Canada and
is solely focused on the use of Hydrogen Peroxide as a sustainable,
effective antimicrobial solution for hands, surfaces and devices,
displacing legacy chemistries that are largely ineffective against
targeted pathogens and can be harsh to the user and the
environment. Virox has 7 global patents issued, with as many
pending, and licenses the portfolio to global leaders in infection
prevention across a variety of sectors including consumer,
institutional, dental, animal health, agriculture and food
processing.
Website Information
We routinely post important information for investors on our
website, www.sealedair.com, in the "Investor Relations" section. We
use this website as a means of disclosing material, non-public
information and for complying with our disclosure obligations under
Regulation FD. Accordingly, investors should monitor the Investor
Relations section of our website, in addition to following our
press releases, SEC filings, public conference calls, presentations
and webcasts. The information contained on, or that may be accessed
through, our website is not incorporated by reference into, and is
not a part of, this document.
Forward-Looking
Statements
Statements in this press release may be “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 concerning our business, consolidated financial
condition and results of operations. These statements include
comments as to future events that may affect Sealed Air, which are
based upon management’s current expectations and are subject to
uncertainties, many of which are outside Sealed Air’s control.
Forward-looking statements can be identified by such words as
“anticipates,” “expects,” “believes,” “plan,” “could,” “estimate,”
“will” and similar expressions. A variety of factors may cause
actual results to differ materially from these expectations,
including economic conditions affecting packaging utilization,
changes in raw material costs, currency translation effects, and
legal proceedings. For more extensive information, see “Risk
Factors” and “Cautionary Notice Regarding Forward-Looking
Statements,” which appear in our most recent Annual Report on Form
10-K, as may be revised and updated from time to time by our
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as
filed with the Securities and Exchange Commission. These reports
are available on the Securities and Exchange Commission’s website
at www.sec.gov or our Investor Relations home page at
http://ir.sealedair.com. Information on Sealed Air’s website is not
incorporated into, and does not form a part of, this press release.
Sealed Air does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date.
Sealed Air CorporationInvestor:Lori Chaitman,
201-703-4161orMedia:Ken Aurichio, 201-703-4164
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