ELMWOOD PARK, N.J.--(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.
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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.