Veritiv Corporation, a leading distributor of packaging, facility solutions, and print products, today announced that an affiliate of Clayton, Dubilier & Rice, LLC (CD&R) completed its acquisition of the company.<\/p>\n
CD&R is a private investment firm with offices in New York and London.<\/p>\n
On August 7, 2023, CD&R and Veritiv announced they had entered into a definitive agreement under which each share of Veritiv common stock issued and outstanding immediately prior to the closing of the transaction would be acquired for $170.00 per share in cash, valuing Veritiv at approximately $2.6 billion.<\/p>\n
“The completion of this transaction represents an important milestone in our company’s journey,” said Sal Abbate, Chief Executive Officer of Veritiv. “CD&R’s significant investment in Veritiv is a testament to our company’s strong positioning as a leading specialty distribution solutions company and to our team’s hard work and commitment. We are confident that this partnership, along with the financial and operational flexibility we will now have as a private company, will enable us to continue enhancing the innovative and sustainable solutions we deliver to our customers today – and into the future.”<\/p>\n
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