Sealed Air to Go Private in $10.3 Billion Sale to Clayton, Dubilier & Rice

Sealed Air Corporation, the Charlotte-based packaging giant renowned for its Bubble Wrap and Cryovac brands, has agreed to be acquired by private equity firm Clayton, Dubilier & Rice (CD&R) in an all-cash transaction valued at $10.3 billion. The deal, announced on November 17, 2025, will take Sealed Air private, offering shareholders $42.15 per share—a 41% premium over the company's unaffected stock price as of August 14, 2025.

The acquisition is expected to close in mid-2026, pending shareholder approval and regulatory clearances. The agreement includes a 30-day "go-shop" period, allowing Sealed Air to solicit alternative acquisition proposals from third parties.

"After careful review of strategic alternatives over the past year, the Board is confident that this transaction delivers significant value and is in the best interests of our stockholders and the Company," said Henry R. Keizer, Chairman of Sealed Air's Board of Directors.

Founded in 1960, Sealed Air has grown into a global leader in packaging solutions, generating $5.4 billion in sales in 2024 and employing approximately 16,400 people across 117 countries. The company's products serve diverse sectors, including food, e-commerce, industrial, and life sciences.

CD&R, established in 1978, has a history of investing in industrial and packaging companies. "Sealed Air is an exceptional global business with a talented leadership team, leading franchises, and attractive underlying fundamentals," said Rob Volpe, Partner at CD&R. "We are committed to supporting Sealed Air’s continued investment in its people, assets, and product portfolio."

In 2024, Sealed Air completed a reorganization into two market-focused businesses: Food and Protective. The Food segment experienced volume growth driven by competitive share gains and continued end-market demand, while the Protective segment focused on portfolio rebalancing and enhanced customer engagement. The company achieved $89 million in incremental cost savings for the year and reduced its net leverage ratio to 3.6x.

Dustin Semach, who was promoted to Chief Executive Officer in 2024, emphasized the strategic benefits of the acquisition. "CD&R’s partnership will enhance our ability to invest in growing our Food and Protective businesses while maintaining a customer-first approach," Semach stated.

The packaging industry has been experiencing consolidation, with companies seeking to enhance their market positions and operational efficiencies. Sealed Air's acquisition by CD&R reflects this trend and underscores the evolving strategies of private equity firms targeting established industrial companies.

As the transaction progresses toward its anticipated mid-2026 closure, stakeholders will be closely monitoring the integration strategies and market responses that will shape the future of Sealed Air and the broader packaging industry.