Unisource Worldwide, xpedx Agree to Merge
Distribution solutions businesses Unisource Worldwide, Inc. and xpedx will merge under the terms of a definitive agreement that would result in the creation of a new publicly traded company. The merger, with an expected completion by mid-2014, will create an enhanced platform for profitable growth across packaging, print and facility solutions.
The transaction is subject to certain closing conditions. Revenues for the new company are expected to range between $9-10 billion. It will have about 9,500 team members across more than 170 distribution centers in North America, with executive offices in the greater Atlanta, GA, area. In addition, the new company will retain the two existing operational headquarters of the legacy companies in Norcross, GA, and Loveland, OH. Mary Laschinger will be the chief executive officer of the new company and chairman of its board of directors. Allan Dragone will serve as a director of the new company and will advise on integration activities.