Unisource Worldwide Signs Letter of Intent with International Paper to Explore the Creation of a Standalone Distribution Business
Unisource Worldwide is engaged in exclusive talks with International Paper regarding a proposed transaction in which its xpedx distribution business would be combined with Unisource. Unisource and xpedx are leading, complementary business-to-business distributors of printing paper, packaging and facility supplies.
The discussions were initiated after Unisource approached International Paper about the potential business combination, and on April 19, 2013, the parties entered into a non-binding letter of intent to explore a possible transaction. Unisource will continue doing business as usual until a proposed deal is closed. If no transaction is completed, Unisource will remain a private company.
Both Unisource and xpedx are recognized industry leaders that share the goal of serving customers by delivering the quality products and solutions they need, when and where their customers need them. Combining the two businesses would enable an expanded geographic reach to important regions of the world, and further optimize and strengthen the supply chain, resulting in better customer service.
Seth Meisel, a member of the Unisource board of directors and a managing director at Bain Capital, the majority owner of the company, said, "Unisource and xpedx serve their markets and customers well. A new company that unites their capabilities can create even more opportunities to deliver value and growth.”
About Unisource Worldwide Inc.
Unisource Worldwide Inc., headquartered in Norcross, Ga., is one of the largest privately held companies in the United States and offers a comprehensive suite of customer solutions—including engineered design capabilities, eBusiness technologies, logistics expertise, paper brokerage services and environmentally responsible options. The company also markets a full line of commercial printing and business imaging papers, packaging materials and systems, and facility supplies and equipment. With more than 4,500 team members located worldwide throughout business units in the United States, Canada, Europe and Asia; and a fleet of “Big Red” trucks based at approximately 90 locations across North America, Unisource is the company that provides Customer Solutions in a Global Market. For more information, visit www.unisourceworldwide.com.