Diversey reported fiscal fourth-quarter net sales of US$701.6 million, an increase of 4.3 per cent from $664.9 million in sales one year earlier.

The company’s institutional segment reported fourth-quarter net sales of $490.3 million, an increase of 0.7 per cent from $486.9 in the same quarter in 2021.

Sales in Diversey’s food and beverage division climbed 13.9 per cent from the previous year, up from $185.5 million to $211.3 million.

For the full year 2022, Diversey posted net sales of $2.76 billion, up 5.6 per cent from $2.61 billion in 2021.

Earlier this month, Diversey announced it has entered into a definitive merger agreement with specialty chemical manufacturer Solenis, a portfolio company of Platinum Equity.

Under the terms of the agreement, Solenis will acquire Diversey in an all-cash transaction valued at an enterprise value of approximately US$4.6 billion.

Solenis is a manufacturer of specialty chemicals used in water-intensive industries, which was acquired by Platinum Equity in 2021.

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