Veritiv has entered into a binding agreement with Orora to acquire the North American packaging and distribution business Orora Packaging Solutions (OPS). This strategic acquisition will further position Veritiv as a leading provider of value-added products and solutions in specialty packaging distribution in North America.
"The combination of Veritiv and Orora Packaging Solutions will significantly enhance the value we deliver to our customers," said Sal Abbate, CEO of Veritiv. "By uniting two successful players with a shared commitment to innovation, sustainability, and exceptional customer experiences, we are poised to offer a wide range of products and value-added solutions that meet even the most complex packaging and supply chain needs.
"Our complementary business strategies and core values make this partnership a natural fit, and I am confident the integration will create a stronger, more agile organization that sets new standards for excellence. We are excited to bring together the talented employees, loyal customers, and trusted suppliers of both Veritiv and Orora Packaging Solutions, and we look forward to collaborating as one unified team."
This acquisition underscores Veritiv's dedication to enhancing its capabilities in the specialty packaging distribution sector, enabling the company to continue to provide innovative, sustainable, and value-added solutions from design to delivery.
"OPS has earned an exceptional reputation for the quality of our service offering to customers in the North America market across our manufacturing, visual display and distribution businesses," said Kelly Barlow, President of OPS. "The addition of OPS to Veritiv's packaging distribution platform will provide an even more compelling customer offering and significant value creation potential. Both companies have a customer-centric approach, which will be underpinned by a combined broad-based footprint, enhanced design and value-added services, and a laser focus on sustainability. We look forward to partnering with Veritiv to significantly enhance the value we deliver for our customers together."
The transaction is subject to regulatory approvals and satisfaction of other customary closing conditions and is expected to be completed in the Q4 2024.
Headquartered in Buena Park, CA, OPS (incorporating Orora Visual) is a leading manufacturer and distributor of sustainable, innovative packaging solutions with nearly 70 distribution and manufacturing facilities, and approximately 3,000 employees.
Veritiv Corporation, headquartered in Atlanta, is a leader in specialty packaging distribution.
