CHARLOTTE, N.C. (AP) — Sealed Air, the Bubble Wrap maker, has announced it is spinning off about a third of the company, but says the move will not change the company's decision to relocate from New Jersey to Charlotte.
The company said in a news release Monday that it will spin off Diversey Care, the cleaning products company it bought in 2011, as well as the food hygiene and cleaning business within its food care division.
The spun-off company will remain in Charlotte and will lease buildings on Sealed Air's new $58 million campus.
Sealed Air announced its move to North Carolina in 2014, in what the Charlotte Chamber called the largest corporate headquarters relocation in the city's history.
Sealed Air says the split will allow it to be more efficient.