Veritiv Signs Definitive Purchase Agreement to Sell its Rigid Containers Business

PR Newswire

ATLANTA, Dec. 9, 2024

ATLANTA, Dec. 9, 2024 /PRNewswire/ -- Veritiv Operating Company, a leader in specialty packaging distribution, announced today that it has signed a definitive purchase agreement to sell Veritiv Containers, the company's rigid packaging business (formerly All American Containers) to TricorBraun.

"We made the decision to sell Veritiv's Containers business so that we can further focus on building our industry-leading capabilities in our core specialty packaging business," said Sal Abbate, Veritiv's Chief Executive Officer. "We greatly value this team's dedication and tenacity to serve customers and have appreciated having them as part of the Veritiv family. I am confident they will thrive with this opportunity to be aligned with a company with such a significant focus on rigid packaging. I would like to personally thank our Rigid employees for their hard work and commitment to Veritiv and we wish them all the best as part of TricorBraun. We will work closely with TricorBraun to ensure a seamless and successful transition for employees, customers, and suppliers."

The sale is subject to regulatory approval and is expected to close in the First Quarter of 2025.

Advisors

Goldman Sachs & Co. LLC served as financial advisor and Alston & Bird served as legal advisor on the transaction.

About Veritiv

Veritiv Operating Company, headquartered in Atlanta, is a leading full-service provider of packaging, jan-san and hygiene products, services and solutions. Additionally, Veritiv provides print and publishing products. Serving customers in a wide range of industries both in North America and globally, Veritiv has distribution centers throughout the U.S. and Mexico, and team members around the world helping shape the success of its customers. For more information about Veritiv and its business segments, visit www.veritiv.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/veritiv-signs-definitive-purchase-agreement-to-sell-its-rigid-containers-business-302326306.html

SOURCE Veritiv Operating Company

/CONTACT: Jennifer Chapman, 770-391-8415

(END) Dow Jones Newswires

December 09, 2024 16:00 ET (21:00 GMT)