21 May 2014
Unisource and xpedx will merge into Veritiv
TORONTO—xpedx,  and Unisource Worldwide, have chosen the name Veritiv for the distribution company that will be created when their merger is complete. The name Veritiv comes from the roots of three words: “verity”, meaning true, and “active” and “connective”. Common stock of the new company is expected to trade on the New York Stock Exchange under the symbol VRTV.

“The name of our combined company reflects the core strength of our new organization—our commitment to deliver with excellence and shape our customers’ success,” said Mary Laschinger, who will serve as Veritiv’s chairman and chief executive officer.

As previously announced, Unisource and xpedx have agreed to merge to create a North American distribution company. The company will begin operating under its new name and will introduce its new brand/logo immediately after the closing of the transaction, which is expected to occur early in the third quarter of 2014.

The new company will have projected annual revenue in the range of $9 to $10 billion and will have approximately 9,500 employees across more than 170 distribution centres in North America. The combination is expected to generate approximately $150 million to $225 million in annual savings.

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