07.01.21
Fort Mill, SC
www.diversey.com
Sales: $2.6 billion
Key Personnel
Phil Wieland, chief executive officer; Todd Herndon, chief financial officer; Gaetano Redaelli, chief strategy development officer; Paul Budsworth, president, North America; Sinéad Kwant, president, Western Europe; Himanshu Jain, president, APAC; Jorge Hileman, president, Latin America; Ruud Verheul, global president, food & beverage division; Michael Del Priore, chief information officer; Suzanne Thompson, chief technology officer; Brad Weber, chief supply chain officer; Annette Bergknut, chief human resources officer; Julia Velichko, chief procurement officer; Mike Chapman, general counsel
Major Products
Cleaning and hygiene products used primarily within the institutional and food and beverage markets
Comments: Diversey is a public company again. The industrial and institutional product manufacturer was founded in 1923. Over the years, the company has had a range of owners, including the Molson Company and Unilever. Bain Capital acquired Diversey in 2017 from Sealed Air Corp for about $3.2 billion and ultimately merged it with UK-based Zenith Hygiene Group. In March, Diversey began trading on NASDAQ under the symbol “DSEY.”
For the first quarter of 2021, sales fell less than 4% to $631 million. The company noted that the COVID-19 pandemic continued to impact sales, especially within the institutional segment. In Q1, institutional sales fell 8.7% due to the marked volume decline at restaurants, hotels, and entertainment facilities driven by shutdowns related to the COVID-19 pandemic. Of course, long-term, the company expects increased demand for infection prevention products and services. Diversey executives noted that the pandemic has resulted in higher disinfection standards and a fundamental shift in demand for its products, thereby permanently altering the landscape for health and hygiene solutions.
By segment, institutional sales fell 5.2% to $468 million. The decline was driven primarily by the impact of COVID-19 related shutdowns in all regions except North America, particularly in restaurants, hotels, and entertainment facilities. North America revenue grew 40.7% in 2021, reflecting new customer wins and demand for infection prevention products.
Food & Beverage sales increased 2.1% due to the acquisition of SaneChem. Diversey noted that F&B was less affected by the COVID-19 pandemic as many customers were considered essential businesses and did not experience shutdowns to the extent experienced in the institutional segment. On a regional basis, growth was led by Middle East and Africa, and Latin America, primarily driven by pricing actions to offset inflation. Sales volumes were also higher in these regions as well as in North America on a combination of demand for sanitizers and disinfectant products and new customers.
www.diversey.com
Sales: $2.6 billion
Key Personnel
Phil Wieland, chief executive officer; Todd Herndon, chief financial officer; Gaetano Redaelli, chief strategy development officer; Paul Budsworth, president, North America; Sinéad Kwant, president, Western Europe; Himanshu Jain, president, APAC; Jorge Hileman, president, Latin America; Ruud Verheul, global president, food & beverage division; Michael Del Priore, chief information officer; Suzanne Thompson, chief technology officer; Brad Weber, chief supply chain officer; Annette Bergknut, chief human resources officer; Julia Velichko, chief procurement officer; Mike Chapman, general counsel
Major Products
Cleaning and hygiene products used primarily within the institutional and food and beverage markets
Comments: Diversey is a public company again. The industrial and institutional product manufacturer was founded in 1923. Over the years, the company has had a range of owners, including the Molson Company and Unilever. Bain Capital acquired Diversey in 2017 from Sealed Air Corp for about $3.2 billion and ultimately merged it with UK-based Zenith Hygiene Group. In March, Diversey began trading on NASDAQ under the symbol “DSEY.”
For the first quarter of 2021, sales fell less than 4% to $631 million. The company noted that the COVID-19 pandemic continued to impact sales, especially within the institutional segment. In Q1, institutional sales fell 8.7% due to the marked volume decline at restaurants, hotels, and entertainment facilities driven by shutdowns related to the COVID-19 pandemic. Of course, long-term, the company expects increased demand for infection prevention products and services. Diversey executives noted that the pandemic has resulted in higher disinfection standards and a fundamental shift in demand for its products, thereby permanently altering the landscape for health and hygiene solutions.
By segment, institutional sales fell 5.2% to $468 million. The decline was driven primarily by the impact of COVID-19 related shutdowns in all regions except North America, particularly in restaurants, hotels, and entertainment facilities. North America revenue grew 40.7% in 2021, reflecting new customer wins and demand for infection prevention products.
Food & Beverage sales increased 2.1% due to the acquisition of SaneChem. Diversey noted that F&B was less affected by the COVID-19 pandemic as many customers were considered essential businesses and did not experience shutdowns to the extent experienced in the institutional segment. On a regional basis, growth was led by Middle East and Africa, and Latin America, primarily driven by pricing actions to offset inflation. Sales volumes were also higher in these regions as well as in North America on a combination of demand for sanitizers and disinfectant products and new customers.