Sealed Air Agrees to Sell European Food Trays Business, ~$71M

Sealed Air Corporation

announced that it has entered into an agreement for the potential sale of its European food trays business to Faerch Plast A/S, a European food packaging solutions provider. The transaction will include Sealed Air's manufacturing facilities in Poole, UK and Bunol, Spain, and is contingent on customary closing conditions which are anticipated to occur in the fourth quarter of 2015. Sealed Air's European food trays businesses generated approximately $71 million USD in sales for fiscal year 2014. "As we continue to transform into a knowledge-based company, we want to ensure that our resources are dedicated to support our core businesses and to drive the development of disruptive technologies that will accelerate our growth opportunities. This transaction follows the sale of our North American foam tray and pads business in April 2015 and is aligned with our Get Fit/Change the Game strategy," said Jerome A. Peribere, President and Chief Executive Officer, Sealed Air. Business Sealed Air Corporation creates a world that feels, tastes and works better. In 2014, the Company generated revenue of approximately $7.8 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, enables 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 24,000 employees who serve customers in 175 countries. To learn more, visit www.sealedair.com. Website Information We routinely post important information for investors on our website, www.sealedair.com, in the "Investor Relations" section. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.