Sealed Air Corporation (SEE)

Sealed Air Corporation is a global packaging company best known for the Bubble Wrap and Cryovac brands. The business was started in 1960 by Alfred Fielding and Marc Chavannes, who developed air-cellular cushioning material that became Bubble Wrap. The company's headquarters are in Charlotte, North Carolina, where it relocated from New Jersey.

A major transformation came in 1998, when Sealed Air merged with the Cryovac packaging business of W. R. Grace & Co. The combination added barrier shrink film and other food packaging technology used for fresh meat, poultry, seafood, cheese and processed foods. In later years Sealed Air also acquired Diversey, a cleaning and hygiene business, in 2011, and later sold it in 2017 to Bain Capital to concentrate on packaging.

In its final years as a public company, Sealed Air reported two segments. The Food segment supplied packaging materials and automated equipment that helped processors extend shelf life, improve food safety and reduce waste. The Protective segment supplied cushioning, mailers, foam and inflatable packaging and automation solutions for e-commerce, logistics and industrial customers. Its products were sold through direct channels and distributors in markets around the world.

The common stock traded on the New York Stock Exchange under the symbol SEE. Packaging demand softened after the pandemic, with destocking by customers and lower volumes in some protective applications, and the company undertook restructuring and cost-savings initiatives. Company leadership also changed over the period, as Ted Doheny led the company as chief executive from 2018 until Dustin Semach later took the role.

In late 2025 Sealed Air agreed to be acquired by funds affiliated with Clayton, Dubilier & Rice in an all-cash transaction. The deal valued the company at approximately $10.3 billion including debt, with about $6.3 billion paid to shareholders. The combination was presented as a way for the company to pursue its strategy with private ownership.

The acquisition was completed on April 9, 2026, after shareholder and regulatory approvals. Sealed Air became privately held, common stockholders received the cash merger consideration, and the NYSE removed the shares from trading. A Form 25 was filed with the SEC on that date.