Applicant
Sword Merger Sub, Inc.
Case number(s)
202600015
Decision date
Type
Decision
Topic
Overseas investment
DecisionConsent granted
Section 12(1)(b) and Section 13(1)(a) Overseas Investment Act 2005
Decision makerToitū Te Whenua Land Information New Zealand
Decision date9 March 2026
PathwaysBenefit to New Zealand and Significant business assets
InvestmentAcquisition by Clayton, Dubilier & Rice (CD&R) of up to 100% of the shares in Sealed Air Corporation (Sealed Air) which gives an interest in approximately 4 hectares of sensitive land.
ConsiderationWithheld under section 9(2)(b)(ii) of the Official Information Act 1982
ApplicantSword Merger Sub, Inc.
Clayton, Dubilier & Rice Fund XII, L.P. and affiliated funds 100%
VendorThe shareholders of Sealed Air Corporation
United States of America 30%
Various 70%
Background

The Applicant is ultimately owned by CD&R, a private investment firm, based in the United States.

As part of a global transaction the Applicant is acquiring, via 6 limited partnership funds, sole control of Sealed Air. Sealed Air has a presence in New Zealand operating through its subsidiary Sealed Air (New Zealand). Sealed Air is a global provider of packaging solutions.

The main benefits to New Zealand are likely to be the maintenance of New Zealand’s strong international reputation as a country that welcomes high quality investment as well as advancing government policy on investment.

Consent was granted as the Applicant met the investor test criterion and the investment is likely to benefit New Zealand.

More informationGlenn Shewan
Bell Gully
PO Box 4199
Auckland 1140