Charlotte, NC-based Sealed Air Corp., a global provider of food and protective packaging, says it will be acquired by funds affiliated with CD&R, a private investment firm with experience in the manufacturing and packaging industries, in an all-cash deal worth $10.3 billion.

“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,” says Henry R. Keizer, Chairman of the Board of Sealed Air. “Furthermore, this transaction represents a realization of immediate and certain value for Sealed Air stockholders at a substantial premium and enables the company to execute its long-term strategic vision.”

“Today marks an inflection point in Sealed Air’s history and we look forward to embarking on this next phase of growth in partnership with CD&R,” adds Dustin Semach, president/CEO-Sealed Air. “This transaction delivers significant and derisked value to Sealed Air stockholders while accelerating our ongoing transformation. CD&R’s partnership will enhance our ability to invest in growing our Food and Protective businesses while maintaining a customer-first approach. Through more rapid innovation, expanded capabilities and broader reach, we will create more value for our customers and more opportunities for our employees.”

The deal, unanimously approved by Sealed Air’s Board of Directors, is expected to close in mid-2026. Upon completion, Sealed Air headquarters will remain in Charlotte. Sealed Air will become a privately held company, and its common stock will no longer be traded on the New York Stock Exchange.