International Paper agrees to merge xpedx distribution business with Unisource Worldwide, Inc.
New publicly held distribution company to create strong platform for profitable growth in Packaging, Print and Facility Solutions
International Paper (internationalpaper.com) today announced that distribution solutions businesses xpedx (xpedx.com) and Unisource Worldwide, Inc. will merge under the terms of a definitive agreement that will result in the creation of a new publicly traded company. The agreements providing for the combination of the two businesses were signed by International Paper, parent company of xpedx, and by UWW Holdings LLC, the holding company that owns Unisource and is owned by an affiliate of Bain Capital and by Georgia-Pacific, as well as certain of their affiliates.
Upon the expected completion of the merger in mid-2014, which is subject to certain closing conditions, the new company will have projected annual revenue in the range of $9 billion to $10 billion, and will have about 9,500 team members across more than 170 distribution centers in North America.