Veritiv formed by combining Unisource and xpedx
New leading distribution solutions company, Veritiv, to begin trading on New York Stock Exchange.
July 10, 2014
by Canadian Packaging Staff
ATLANTA and LOVELAND, Ohio—Veritiv Corporation, a leading distribution solutions company has begun trading on the New York Stock Exchange (NYSE) under the symbol VRTV as of July 2, 2014.
Veritiv is a new company was formed by the combination of xpedx and Unisource Worldwide, Inc.—completed on July 1, 2014.
As a leading North American business-to-business distribution company, Veritiv provides its customers with superior service, innovative and value-added products, and enhanced technology and business solutions.
With approximately 9,500 team members in more than 170 distribution centers across the U.S., Mexico and Canada, Veritiv provides the end-to-end print, packaging, facility and logistics solutions customers need to make their business operations more efficient and sustainable.
Projected 2014 revenue for the combined company is in the US$9- to $10-billion range.
“We are pleased to have completed this transaction and look forward to executing on our commitment of delivering to our customers innovative products and excellent service that meets their expectations,” says Veritiv chief executive officer and chairman Mary Laschinger seen below in the video opening up the July 2 NYSE.
She continues: “Veritiv will continue to be a market leader thanks to our experienced team of distribution professionals and our substantial geographic reach. We look forward to completing our integration and bringing together our terrific employees who will ultimately drive our success. Our Board, leadership team and employees are excited about the future of the combined company.”
Pursuant to the transaction agreements, Veritiv completed its separation from International Paper Company. Immediately thereafter, UWW Holdings, Inc., the parent company of Unisource Worldwide, Inc., merged with and into Veritiv.
In connection with the transactions, Veritiv issued 16 million shares, with approximately 51% distributed to International Paper shareholders and approximately 49% issued to the sole stockholder of UWW Holdings, Inc.
Veritiv Corporation has corporate offices in Atlanta and Loveland, OH.
For company information, visit www.veritivcorp.com.