ATLANTA, May 2, 2022
/PRNewswire/ -- Veritiv Corporation (NYSE: VRTV), a full-service
provider of business-to-business products, services, and solutions,
announced today that it has completed the sale of its Veritiv
Canada, Inc. business to Imperial Dade. Effective today, Veritiv's approximately
900 employees in Canada are now
employees of Imperial Dade.
"With the completion of the sale of our Canadian operations, we
can further focus on our strategy to invest in higher growth,
higher margin businesses and geographies, and build on our
industry-leading Packaging and Facility Solutions capabilities,"
said Sal Abbate, Veritiv's Chief
Executive Officer. "We thank our Canada employees for their hard work and
dedication to Veritiv and we wish them well as part of the Imperial
Dade team. We will continue
working closely with Imperial Dade
to execute a smooth and successful transition for customers and
suppliers of our Canada
business."
Greenhill & Co. served as financial advisor and Sidley
Austin LLP served as legal advisor on the transaction.
About Veritiv
Veritiv Corporation (NYSE: VRTV), headquartered in Atlanta and a Fortune 500® company,
is a full-service provider of packaging, JanSan and hygiene
products, services and solutions. Additionally, Veritiv provides
print and publishing products, and logistics and supply chain
management solutions. Serving customers in a wide range of
industries both in North America
and globally, Veritiv has distribution centers throughout the U.S.
and Mexico, and team members
around the world helping shape the success of its customers.
For more information about Veritiv and its business segments
visit www.veritivcorp.com.
Safe Harbor Provision
Certain statements contained in this press release regarding
Veritiv's strategic plans, the transition of the Canada business and any other statements not
constituting historical fact are "forward-looking statements"
subject to the safe harbor created by the Private Securities
Litigation Reform Act of 1995. Where possible, the words "believe,"
"expect," "will," "look forward" or other comparable expressions
have been used to identify such forward-looking statements. All
forward-looking statements reflect only the company's current
beliefs and assumptions with respect to future results or other
events, and are based on information currently available to the
company. Accordingly, the statements are subject to significant
risks, uncertainties, and contingencies, which could cause actual
results or other events to differ materially from those expressed
in, or implied by, these statements. Factors that could cause
actual results to differ materially from current expectations
include the risks and other factors described under "Risk Factors"
and elsewhere in Veritiv's Annual Report on Form 10-K and in
Veritiv's other publicly available reports filed with the
Securities and Exchange Commission, as well as the satisfaction of
the conditions to closing the transaction. The company is not
responsible for updating the information contained in this press
release beyond the published date.
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SOURCE Veritiv Corporation