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Veritiv

From Wikipedia, the free encyclopedia
Veritiv
TypePrivately held company
IndustryPulp and paper industry, Packaging, and Facility Supplies
Founded2007; 19 years ago (2007) (as Xpedx)
July 1, 2014; 12 years ago (2014-07-01) (as Vertitiv)
HeadquartersAtlanta, Georgia
Key people
Salvatore A. Abbate, CEO
J. Scott Palfreeman, CFO
Owner
SubsidiariesUnisource Worldwide
Websitewww.veritiv.com

Veritiv, a subsidiary of Clayton, Dubilier & Rice, is a business-to-business provider of packaging, publishing, and hygiene products. Headquartered in Sandy Springs, Georgia, part of the Atlanta metropolitan area, it has 125 operating distribution centers throughout the United States and Mexico.

The company is ranked 503rd on the Fortune 500.[1] While Mary Laschinger was the CEO, it was the largest woman-run company in Georgia.[2]

History

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Veritiv was established on July 1, 2014 upon the merger of the xpedx division of International Paper Company with the parent company of Unisource Worldwide.[3]

In August 2014, the firm leased its headquarters in Sandy Springs, Georgia, from Cousins Properties.[4][5]

In September 2017, it acquired All American Containers, its first acquisition.[2][6] It was sold in December 2024.[7]

In 2020, during the COVID-19 pandemic, the company cut its workforce by 15%.[8] In September, CEO Mary Laschinger retired and was replaced by Salvatore A. Abbate.[9]

In May 2022, the company sold its Canadian operations.[10]

In November 2023, the company was acquired by Clayton, Dubilier & Rice.[11]

In December 2024, the company acquired Orora Packaging Solutions.[12]

See also

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References

[edit]
  1. ↑ "Fortune: Veritiv". Fortune.
  2. 1 2 Mandel, Eric (September 5, 2017). "Georgia's largest woman-run company makes first acquisition since going public". American City Business Journals.
  3. ↑ Sheffield, Michael (June 11, 2014). "Merged xpedx and Unisource company will be Veritiv". American City Business Journals.
  4. ↑ Sams, Douglas (August 12, 2014). "Veritiv to relocate HQ to Sandy Springs". American City Business Journals.
  5. ↑ Trubey, J. Scott (December 4, 2014). "Veritiv to put HQ in Sandy Springs". The Atlanta Journal-Constitution.
  6. ↑ Yamanouchi, Kelly (September 5, 2017). "Sandy Springs-based Veritiv acquires All American Containers". The Atlanta Journal-Constitution.
  7. ↑ "TricorBraun to Acquire Veritiv's Rigid Containers Business, Further Expanding Its North American Footprint" (Press release). PR Newswire. December 9, 2024.
  8. ↑ Allison, David (December 21, 2020). "Atlanta's Veritiv Corp. to expand restructuring plan, cost may hit $100M". American City Business Journals.
  9. ↑ Donnelly, Grace (September 21, 2020). "Veritiv CEO Mary Laschinger to retire, successor picked". American City Business Journals.
  10. ↑ "Veritiv Closes Sale of Canadian Operations to Imperial Dade" (Press release). PR Newswire. May 2, 2022.
  11. ↑ "CD&R Completes Acquisition of Veritiv Corporation" (Press release). PR Newswire. November 30, 2023.
  12. ↑ "Veritiv Completes Acquisition of Orora Packaging Solutions" (Press release). PR Newswire. December 11, 2024.
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