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Veritiv Operating Company has completed its acquisition of Orora Packaging Solutions (OPS), following their binding agreement announced on September 3, 2024. The acquisition brings nearly 3,000 OPS employees under Veritiv's umbrella, strengthening their position in specialty packaging distribution. CEO Sal Abbate emphasized that the merger will enhance customer value through expanded specialty packaging products and value-added solutions.
This acquisition follows Veritiv's recent purchases of Vivabox Solutions, AmeriPac, and PAX Global, demonstrating their commitment to expanding their design-to-delivery capabilities in the specialty packaging distribution sector. The company secured financing from multiple leading financial institutions, with Goldman Sachs & Co. and Morgan Stanley & Co. serving as lead financial advisors.
Veritiv, a leader in specialty packaging distribution, has announced a binding agreement to acquire Orora Packaging Solutions (OPS) from Orora (ASX: ORA). This strategic move aims to strengthen Veritiv's position in the North American specialty packaging distribution market. The acquisition is expected to enhance Veritiv's product range and value-added solutions, meeting complex packaging and supply chain needs.
Key highlights of the acquisition include:
- Complementary business strategies and shared values between the two companies
- Enhanced capabilities in innovation, sustainability, and customer experience
- Expanded footprint and improved design and value-added services
- Focus on sustainability in packaging solutions
The transaction is subject to regulatory approvals and is anticipated to close in the fourth quarter of 2024. Veritiv has secured committed financing from its existing lender group and additional financial institutions to support the acquisition.
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