Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Note 20 Subsequent Events

Effective November 1, 2015, we closed the sale of our European food trays business, which included Sealed Air’s manufacturing facilities in Poole, UK, and Bunol, Spain, to Faerch Plast A/S, a European food packaging solutions provider for gross proceeds of $20 million. The gross proceeds excludes a contingent consideration which will be received if certain performance targets are met. The transaction follows the sale of the Company’s North American foam trays and absorbent pads business in April 2015. Sealed Air’s European food trays businesses generated approximately $71 million in sales for fiscal year 2014 and $44 million in sales for the nine months ended September 30, 2015.See Note 3, “Divestitures and Acquisitions” for additional details regarding the North American transaction.