Sealed Air Corporation is selling its Diversey Care division and the food hygiene and cleaning business within its Food Care division to global private investment firm Bain Capital Private Equity for about $3.2 billion.

New Diversey will be a leading hygiene and cleaning solutions company that integrates chemicals, floor care machines, tools and equipment, with a wide range of technology based value-added services, food safety services and water and energy management. The deal is expected to close mid-2017.

There are approximately 8,600 employees around the world that New Diversey will continue to employ. Diversey Care and the related food hygiene businesses, known for innovations like the Internet of Clean, robotics and AHP disinfection technologies, generated combined net sales of approximately $2.6 billion in 2016.

“New Sealed Air, a leading provider of food, product and medical packaging solutions, will continue to focus on accelerating profitable growth and generating strong cash flow through end market opportunities and the global adoption of new products and solutions,” said President and CEO Jerome A. Peribere. “Sealed Air’s advanced product portfolio is designed to reduce waste, conserve resources and provide product security, and deliver unique and measurable value to customers and the planet.”

“We are excited to partner with the talented team at Diversey to grow across key market verticals and geographies while investing in innovative hygiene solutions,” said Ken Hanau, a managing director at Bain Capital Private Equity. Bain Capital’s integrated global platform and strong growth orientation are well aligned with the strategic vision for Diversey.”