Veritiv to Begin Trading on the New York Stock Exchange
Combination of xpedx and Unisource Worldwide Creates Leading Distribution
ATLANTA and LOVELAND, Ohio, July 1, 2014
ATLANTA and LOVELAND, Ohio, July 1, 2014 /PRNewswire/ --Veritiv Corporation,
a leading distribution solutions company, today announced that it will begin
"regular way" trading on the New York Stock Exchange (NYSE) under the symbol
VRTV on July 2, 2014. The new company was formed by the combination of xpedx
and Unisource Worldwide, Inc., which was completed earlier today. Mary
Laschinger, Veritiv Chief Executive Officer and Chairman, will ring the
opening bell at the NYSE tomorrow morning.
As a leading North American business-to-business distribution company, Veritiv
provides its customers with superior service, innovative and value-added
products, and enhanced technology and business solutions. With approximately
9,500 team members in more than 170 distribution centers across North America,
Veritiv provides the end-to-end print, packaging, facility and logistics
solutions customers need to make their business operations more efficient and
sustainable. Projected 2014 revenue for the combined company is in the $9 to
$10 billion range.
"We are pleased to have completed this transaction and look forward to
executing on our commitment of delivering to our customers innovative products
and excellent service that meetstheir expectations," said Laschinger.
"Veritiv will continue to be a market leader thanks to our experienced team of
distribution professionals and our substantial geographic reach. We look
forward to completing our integration and bringing together our terrific
employees who will ultimately drive our success. Our Board, leadership team
and employees are excited about the future of the combined company."
"Completing this transaction marks a very significant stepfor Veritiv, as it
makes the transition from being two separately managed businesses to an
independent public print, packaging, facility and logistics solutions
business," said Seth Meisel, Managing Director at Bain Capital and a member of
theVeritiv Board of Directors. "We look forward to working with Mary and the
leadership team to realize the significant benefits of uniting these two
organizations and to align Veritiv's substantial combined resources to deliver
even more value added solutions for customers."
Pursuant to the transaction agreements, Veritiv completed its separation from
International Paper Company (NYSE: IP). Immediately thereafter, UWW Holdings,
Inc., the parent company of Unisource Worldwide, Inc., merged with and into
Veritiv. In connection with the transactions, Veritiv issued 16 million
shares, with approximately 51% distributed to International Paper shareholders
and approximately 49% issued to the sole stockholder of UWW Holdings, Inc.
Veritiv Corporation (NYSE: VRTV),with corporate offices in Atlanta and
Loveland, Ohio,is a North American leader in business-to-business
distribution solutions. Serving customers across virtually every industry,
Veritiv provides print, packaging, facility and logistics solutions that help
shape the success of its customers. Established in 2014, following a merger
of International Paper's xpedx division and Unisource Worldwide, the company
employs approximately 9,500 team members across more than 170 distribution
centers throughout the U.S., Mexico and Canada. For more information about
Veritiv and its business segments visitwww.veritivcorp.com.
FORWARD LOOKING STATEMENTS
Certain statements in this press release regarding Veritiv Corporation (the
"Company") and the transactions to which it is a party may be considered
"forward-looking statements," such as statements relating to expectations for
the combined company and the projected revenue for the combined company. These
statements may also be identified by words such as "intend," "expect,"
"anticipate," "will," "implied," "designed," "assume" and similar expressions.
These statements reflect the current views of the Company's management and are
subject to risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in these statements. Factors which
could cause actual results to differ include but are not limited to: (i)
industry conditions, including but not limited to changes in the cost or
availability of raw materials, energy and transportation costs, competition
the Company faces, cyclicality and changes in consumer preferences, demand and
pricing for the Company's products; (ii) global economic conditions and
political changes; and (iii) other factors that can be found in the Company's
press releases and filings with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or
otherwise. A registration statement relating to Veritiv common stock has been
filed with the Securities and Exchange Commission. This release does not
constitute an offer to sell or the solicitation of an offer to buy any
securities and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be unlawful. A
prospectus related to Veritiv common stock can be obtained by contacting
Veritiv at Veritiv Corporation, Attn: Investor Relations, 6285 Tri-Ridge
Blvd., Loveland, Ohio 45140, Tel: (513) 965-2790, or by accessing the
Securities and Exchange Commission's website at www.sec.gov.
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SOURCE Veritiv Corporation
Contact: Media: Ed Patterson, Veritiv Corporation, Vice President, Corporate
Communications, (770) 797-4681, Ed.Patterson@veritivcorp.com; or Investors:
Neil Russell, Veritiv Corporation, Senior Vice President, Corporate Affairs,
(513) 965-2790, Neil.Russell@veritivcorp.com
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