{"id":10878,"date":"2025-12-19T05:07:19","date_gmt":"2025-12-19T10:07:19","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=10878"},"modified":"2025-12-19T05:07:19","modified_gmt":"2025-12-19T10:07:19","slug":"sealed-air-to-proceed-with-cdr-buyout-as-go-shop-period-ends","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=10878","title":{"rendered":"Sealed Air to proceed with CD&R buyout as go-shop period ends"},"content":{"rendered":"


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Upon completion of the deal, the company will become privately held. Credit: T. Schneider\/Shutterstock.com.<\/figcaption><\/figure>\n<\/p><\/div>\n

US-based packaging producer Sealed Air\u00a0has confirmed that the 30-day \u2018go-shop\u2019 period linked to its agreed sale to funds affiliated with Clayton, Dubilier & Rice (CD&R) has expired.\u00a0<\/p>\n

The update follows a definitive agreement\u00a0entered in<\/a>\u00a0November, under which CD&R\u2019s affiliated\u00a0funds will acquire all outstanding shares of Sealed Air\u2019s common stock for $42.15\u00a0each.\u00a0<\/p>\n

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The all-cash deal places an enterprise value of $10.3bn on the packaging manufacturer.<\/p>\n

The go-shop window closed at 11:59pm Eastern Time on 16 December 2025.\u00a0<\/p>\n

During this period, and acting on instructions from Sealed Air\u2019s board, the company\u2019s financial adviser Evercore approached 29 potential bidders, comprising seven strategic groups and 22 private equity company.<\/p>\n

Six of these parties\u00a0signed\u00a0confidentiality agreements and were given access to nonpublic information.\u00a0\u00a0<\/p>\n

At the close of the process, no bidder met the criteria to be considered an \u2018excluded party\u2019 under the\u00a0merger agreement.\u00a0<\/p>\n

With the expiry of the go-shop phase, Sealed Air is now subject to standard no-shop restrictions, with specified exceptions that include customary \u2018fiduciary out\u2019 provisions.\u00a0<\/p>\n

The transaction is expected to be completed in mid-2026, subject to shareholder approval, regulatory\u00a0approvals\u00a0and other customary closing conditions.\u00a0\u00a0<\/p>\n

Once finalised, Sealed Air will become a privately held company,\u00a0and its shares will be removed from the New York Stock Exchange.<\/p>\n

The business will\u00a0remain\u00a0headquartered in Charlotte, North Carolina.\u00a0<\/p>\n

Evercore acted as Sealed Air\u2019s exclusive financial adviser while Latham & Watkins\u00a0was legal counsel.\u00a0<\/p>\n

Earlier this month,\u00a0Sealed Air\u00a0named<\/a>\u00a0Russell Grissett as global food president.\u202f\u00a0<\/p>\n

Grissett moves to Sealed Air from TOPPAN Packaging Americas, where he was president and CEO and led the separation and integration of Sonoco\u2019s flexible packaging operations following TOPPAN\u2019s $1.8bn\u202fpurchase<\/a>\u202fof the business.\u202f\u00a0<\/p>\n

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