Nip Impressions logo
Mon, Dec 5, 2016 09:36
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Items just for you
New publication added! Advertising Arguments 2015 book
Search
My Profile
Login
Logout
Management Side
Technical Side
Unisource Worldwide, Inc. and xpedx agree to merge

International Paper announced this week that distribution solutions businesses xpedx and Unisource Worldwide, Inc. will merge under the terms of a definitive agreement that will result in the creation of a new publicly traded company.

The agreements providing for the combination of the two businesses were signed by International Paper, parent company of xpedx, and by UWW Holdings LLC, the holding company that owns Unisource and is owned by an affiliate of Bain Capital and by Georgia-Pacific, as well as certain of their affiliates.

Upon the expected completion of the merger in mid-2014, which is subject to certain closing conditions, the new company will have projected annual revenue in the range of $9 billion to $10 billion, and will have about 9,500 team members across more than 170 distribution centers in North America.

"This transaction provides excellent value for International Paper shareholders and is a unique opportunity for xpedx and Unisource to create a new company that is stronger, more competitive and able to provide even greater value to customers," said John Faraci, chairman and chief executive officer of International Paper. "We anticipate the new company will generate synergies of about $200 million."

Mary Laschinger, president, xpedx, and senior vice president, International Paper, said, "We're bringing together two well established distribution businesses to create a new company with the financial stability and strategic focus to strengthen and grow our core businesses. Combined, the new company will be even better positioned to provide the products, services and ideas to support our customers' businesses."


Printer-friendly format





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: