Veritiv Corporation, a leading distributor of packaging, facility solutions, and print products, announced that an affiliate of Clayton, Dubilier & Rice, LLC (CD&R) completed its acquisition of the company.
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.
John Stegeman, Operating Advisor to CD&R funds, will serve as Chairman of Veritiv with the closing of the transaction. Mr. Stegeman is the Chief Executive Officer of White Cap. Previously, he was the President and Chief Executive Officer of Ferguson Enterprises.
With the completion of the transaction, Veritiv's common stock has ceased trading and is no longer listed on the New York Stock Exchange.
Veritiv Corporation, headquartered in Atlanta, is a leading full-service provider of packaging, JanSan and hygiene products, services and solutions. Additionally, Veritiv provides print and publishing products.
