Veritiv, a leader in specialty packaging distribution, has announced a binding agreement to acquire Orora Packaging Solutions (OPS), the North American division of Australia's Orora.
This strategic acquisition, expected to close in the fourth quarter of 2024, aims to enhance Veritiv's position in the specialty packaging market.
Sal Abbate, CEO of Veritiv, stated, "By uniting two successful players with a shared commitment to innovation and sustainability, we are poised to offer a wide range of products and solutions that meet complex packaging needs." OPS, headquartered in Buena Park, California, operates nearly 70 distribution and manufacturing facilities and employs around 3,000 people, known for its sustainable packaging solutions.
Kelly Barlow, President of OPS, noted that the merger will create a compelling customer offering and significant value. The transaction is subject to regulatory approvals and customary closing conditions, with Veritiv securing financing from major institutions, including Goldman Sachs and Morgan Stanley.
About Orora Packaging Solutions
Headquartered in Buena Park, CA, OPS (incorporating Orora Visual) is a leading manufacturer and distributor of sustainable, innovative packaging solutions to customers across the world, with nearly 70 distribution and manufacturing facilities, and approximately 3,000 employees.
About Veritiv
Veritiv Corporation, headquartered in Atlanta, is a leading full-service provider of packaging, jan-san and hygiene products, services and solutions. Additionally, Veritiv provides print and publishing products. 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.
