Veritiv, a speciality packaging distribution company, has acquired all the assets of US-based packaging solutions provider PAX Global.
PAX Global is known for distributing and converting custom packaging products through value-added solutions, including design, prototyping, and prepress printing capabilities.
Headquartered in Illinois, US, the company boasts annual revenues of approximately $45m.
This acquisition will enhance Veritiv’s design and international sourcing capabilities, particularly in folding cartons and film converting, which are expected to offer new services to customers.
Veritiv CEO Sal Abbate said: “The acquisition represents an investment in building on our industry-leading packaging distribution capabilities by enhancing our design and international sourcing capabilities and establishing new competencies in folding carton and film converting.
“It advances our efforts to create a national platform to better serve customers and further expands our position as the leading speciality provider of value-added packaging products and solutions from design to delivery.”
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PAX Global’s family of companies includes Doran & Ward, DCP International, and Pioneer Packaging.
The company’s workforce spans multiple locations such as Naperville, Burlington, and Centennial in the US, as well as Shenzen and Hong Kong in Asia.
The acquisition brings PAX Global’s customer base in the personal care, food, and pharmaceutical sectors to Veritiv’s network.
PAX Global president Bruce Caldwell said: “We are excited to join the Veritiv team and the opportunity it provides to expand our services and our reach through Veritiv’s established commercial infrastructure, packaging procurement and distribution expertise, and enhanced design and testing capabilities.”
Alston & Bird acted as the legal advisor to Veritiv for this transaction.
