News

Veritiv Acquired by Private Equity Firm

Veritiv Corp. has entered into a definitive agreement to be acquired by an affiliate of private equity investment firm Clayton, Dubilier & Rice LLC (CD&R).

Under the terms of the agreement, each share of Veritiv common stock will be entitled to receive US$170 per share in cash. The transaction would represent a nearly 31% premium over Veritiv’s 30-day volume-weighted average price of $129.89. Veritiv’s board of directors has unanimously voted to approve the transaction and recommends that shareholders vote in favor of the transaction. The deal, which is expected to close later this year, remains subject to shareholder approval and other customary closing conditions. Upon the successful completion of the transaction, Veritiv will become a privately held company.

“This agreement is a pivotal moment in Veritiv’s history,” said Sal Abbate, Veritiv CEO. “CD&R’s interest in our company is a testament to our team’s hard work, innovation, and dedication. Fueled by this partnership, we will continue to evolve towards our greatest potential, delivering innovative and sustainable solutions to our customers today—and into the future.”

About Veritiv
Sandy Springs, Georgia-based Veritiv Corp. markets and distributes facility maintenance supplies, packaging systems, and printing and business-imaging papers throughout North America. For more information, visit www.veritivcorp.com.