Essendant has agreed to a merger with Genuine Parts Co.’s S.P. Richards Co. businesses unit.
Per the terms of the merger, Ric Phillips, Essendant president and CEO, will lead the combined company, which will retain the Essendant brand name. Rick Toppin, president and CEO of S.P. Richards, will serve as chief operating officer, NASDAQ.com reports.
The merger was unanimously approved by the Essendant and Genuine Parts board of directors. It is expected to be finalized by the end of the year, pending shareholder and regulatory approvals.
Previously known as United Stationers, Essendant is a Deerfield, IL-based wholesale distributor of workplace products. Essendant’s portfolio includes its partner brands Azerty, LagasseSweet, Medco, and ORS Nasco. For more information, visit www.essendant.com.
About S.P. Richards
S.P. Richards Co. is a Smyrna, GA-based wholesaler of business products and cleaning supplies. For more information, visit www.sprichards.com.