Veritiv Operating Company, a leading specialty packaging distributor, announced on December 9 that it has entered into a definitive agreement to sell its rigid containers business to TricorBraun.
This strategic move allows Veritiv to concentrate on its core specialty packaging business, including packaging, jan-san, and hygiene products.
“We value the dedication and hard work of our rigid containers team,” said Sal Abbate, Veritiv's CEO. “We believe that TricorBraun, with its strong focus on rigid packaging, is the ideal fit for this business and its employees.”
The sale is subject to regulatory approval and is expected to be finalized in the first quarter of 2025.
Goldman Sachs & Co. LLC served as financial advisor to Veritiv on the transaction, while Alston & Bird acted as legal counsel.
Veritiv Operating Company, 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.
