Two North American paper and packaging distribution businesses have announced a merger. International Paper’s xpedx and Unisource Worldwide, Inc. will merge to form a new publicly traded company.
Two North American paper and packaging distribution businesses have announced a merger. International Paper’s xpedx and Unisource Worldwide, Inc. will merge to form a new publicly traded company.
Xpedx distributes a wide variety of printing, packaging, and facility supplies and equipment to printers, manufacturers, retailers and commercial facilities. Unisource provides enterprise solutions for product packaging and fulfillment, paper and print management, and supply chain and logistics services.
Upon the expected completion of the merger in mid-2014, the new company will have projected annual revenue in the range of US$9 to US$10 billion, and will have about 9,500 employees across more than 170 distribution centers in North America.
Allan Dragone, chief executive officer of Unisource, said, “This merger will create a new company with unique capabilities that will enable better service to customers across their core business segments of packaging, print and facility solutions.”
Mary Laschinger will be the chief executive officer of the new company and chairman of its board of directors. Dragone will serve as a director of the new company and will advise on integration activities.
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