PE Deals

CD&R to acquire packaging firm Veritiv in take-private deal

According to the terms of the agreement, Veritiv shareholders will receive $170 per share in cash.

-
  • When the deal closes, Veritiv will stop trading on the New York Stock Exchange
  • The transaction is expected to close in the fourth quarter of 2023
  • Morgan Stanley & Co. LLC served as financial advisor and Alston & Bird LLP served as legal counsel to Veritiv

Clayton, Dubilier & Rice has agreed to acquire Veritiv Corporation, an Atlanta-based provider of packaging, facility solutions and print products.

According to the terms of the agreement, Veritiv shareholders will receive $170 per share in cash. When the deal closes, Veritiv will stop trading on the New York Stock Exchange.

On the deal, Rob Volpe, a partner at CD&R, said in a statement, “Veritiv is a very well-positioned industry leader with differentiated capabilities that deliver value to customers. We look forward to supporting Veritiv’s talented leadership team in this next phase of the company’s growth, as they continue to pursue their long-term strategic objectives while maintaining an unwavering commitment to employees, suppliers, and customers.”

The transaction is expected to close in the fourth quarter of 2023.

Morgan Stanley & Co. LLC served as financial advisor and Alston & Bird LLP served as legal counsel to Veritiv.

Founded in 1978, CD&R has managed the investment of more than $40 billion in over 100 companies with an aggregate transaction value of more than $175 billion.