US-based Veritiv Operating Company has finalised its acquisition of Orora Packaging Solutions (OPS) to expand its speciality packaging distribution capabilities.
Veritiv signed a binding agreement on 3 September 2024 for the acquisition of Orora’s North American packaging and distribution business, OPS.
This acquisition underscores Veritiv’s commitment to enhancing its capabilities in delivering innovative and sustainable packaging solutions to its customers.
Veritiv CEO Sal Abbate said: “The completion of this acquisition is the next step in enhancing the value we are able to deliver to customers.
“Together, Veritiv and OPS will leverage our shared commitment to innovation, sustainability, and exceptional customer experiences, to offer an even wider range of speciality packaging products and value-added solutions. Our unparalleled size and scale position us to best meet our customers’ most complex supply chain needs.”
OPS’ nearly 3,000 employees, customers, and suppliers will now join Veritiv Operating Company.
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OPS president Kelly Barlow said: “Our team is excited for the opportunities ahead to partner with Veritiv and I am confident we will be better together for our customers, our suppliers, and our employees.
“Our complementary visions, strategies and core values make this partnership a natural fit. The addition of OPS to Veritiv’s packaging distribution platform will provide an even more compelling customer offering and significant value creation potential.”
The acquisition of OPS follows Veritiv’s recent purchases of Vivabox Solutions, AmeriPac, and PAX Global.
Financing support for the acquisition was obtained via Veritiv’s existing lender group.
Goldman Sachs and Morgan Stanley served as lead financial advisors to Veritiv.
Other financial advisors included BMO Capital Markets, RBC Capital Markets, and Wells Fargo, whereas Kirkland & Ellis and Debevoise & Plimpton served as legal counsels to Veritiv.
