Veritiv
 | |
| Company type | Private |
|---|---|
| NYSE: VRTV | |
| Industry | Pulp and paper industry, Packaging, and Facility Supplies |
| Founded | 2007 (as Xpedx) July 1, 2014 (as Vertitiv) |
| Headquarters | Atlanta, Georgia |
Key people | Salvatore A. Abbate, CEO J. Scott Palfreeman, CFO |
| Revenue |  $6.345 billion (2020) |
 $34 million (2020) | |
| Total assets | $2.335 billion (2020) |
| Total equity | $583 million (2020) |
| Owner |
|
Number of employees | 6,400 (2020) |
| Subsidiaries | Unisource Worldwide |
| Website | www |
| Footnotes / references [1] | |
Veritiv Operating Company (formerly Veritiv Corporation, a.k.a. "Veritiv") is a business-to-business provider of packaging, publishing, and hygiene products. Headquartered in Sandy Springs, Georgia, part of the Atlanta metropolitan area,[1] it has 125 operating distribution centers throughout the United States and Mexico.
The company is ranked 412th on the Fortune 500.[2] While Mary Laschinger was the CEO, it was the largest woman-run company in Georgia.[3]
History
[edit]Veritiv was established on July 1, 2014 upon the merger of International Paper Company's xpedx division with the parent company of Unisource Worldwide, at which time International Paper Company completed corporate spin-off of the company.[1][4]
In August 2014, the firm leased its headquarters, in Sandy Springs, Georgia, from Cousins Properties.[5][6] In September 2017, it acquired All American Containers, its first acquisition.[3][7]
In 2020, during the COVID-19 pandemic, the company underwent a restructuring plan and cut its workforce by 15%.[8] In September, CEO Mary Laschinger retired and was replaced by Salvatore A. Abbate.[9]
In November 2023, the company was acquired by Clayton, Dubilier & Rice. [10]
See also
[edit]References
[edit]- ^ a b c "Veritiv Corporation 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Fortune: Veritiv". Fortune.
- ^ a b Mandel, Eric (September 5, 2017). "Georgia's largest woman-run company makes first acquisition since going public". American City Business Journals.
- ^ Sheffield, Michael (June 11, 2014). "Merged xpedx and Unisource company will be Veritiv". American City Business Journals.
- ^ Sams, Douglas (August 12, 2014). "Veritiv to relocate HQ to Sandy Springs". American City Business Journals.
- ^ Trubey, J. Scott (December 4, 2014). "Veritiv to put HQ in Sandy Springs". The Atlanta Journal-Constitution.
- ^ Yamanouchi, Kelly (September 5, 2017). "Sandy Springs-based Veritiv acquires All American Containers". The Atlanta Journal-Constitution.
- ^ Allison, David (December 21, 2020). "Atlanta's Veritiv Corp. to expand restructuring plan, cost may hit $100M". American City Business Journals.
- ^ Donnelly, Grace (September 21, 2020). "Veritiv CEO Mary Laschinger to retire, successor picked". American City Business Journals.
- ^ "CD&R Completes Acquisition of Veritiv Corporation". PR Newswire. November 30, 2023.
Veritiv Agrees To Sell Canadian Operations To Imperial Dade For Undisclosed Sum
External links
[edit]- Official website
- Business data for Veritiv Corporation:
- American companies established in 2014
- Companies based in Atlanta
- Companies formerly listed on the New York Stock Exchange
- Former components of the Dow Jones Industrial Average
- Manufacturing companies established in 2014
- Multinational companies headquartered in the United States
- Papermaking in the United States
- Pulp and paper companies of the United States
- 2023 mergers and acquisitions