Charlotte-based Sealed Air, maker of Bubble Wrap, said Thursday that it is considering selling its professional cleaning unit called Diversey Care.
The effort is in addition to an already announced plan Sealed Air said in October it is considering to spin off Diversey, the cleaning products company it bought in 2011, as well as the food hygiene and cleaning business within its food care division. The spun off Diversey Care portion will be called “New Diversey, and the remaining business will remain a public company called “New Sealed Air.”
Diversey has employees all over the globe, including in its division headquarters in Charlotte, spokesman Ken Aurichio said. It had about $2.6 billion in sales last year, while the remaining Sealed Air business had $4.2 billion.
“This is the appropriate next step in our company’s transformation and will enable us to unlock meaningful value for customers and shareholders,” Sealed Air President and CEO Jerome Peribere said in a statement.
Sealed Air’s shares were up 1.45 percent at $50.22 in early trading.
Sealed Air also reported fourth-quarter and full-year financial results Thursday morning. Sales for the three months that ended Dec. 31 totaled $1.74 billion, down from $1.75 billion from the same period a year prior. Sales for the 2016 totaled $6.78 billion, down from $7.03 in 2015. Earnings per share for the quarter were 76 cents, and for the year, $2.66.
Sealed Air is in the midst of moving its headquarters from New Jersey to Charlotte, where it will add about 1,300 employees at its new $58 million corporate offices in southwest Charlotte. The Charlotte Chamber has called Sealed Air’s move to Charlotte the largest corporate headquarters relocation in the city’s history.
Katherine Peralta: 704-358-5079, @katieperalta
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