Veritiv

{{Infobox company

| name = Veritiv Operating Company

| logo = Image:Veritiv Logo.svg

| type = Private

| traded_as = {{NYSE was|VRTV}}

| industry = Pulp and paper industry, Packaging, and Facility Supplies

| foundation = {{start date and age| 2007 }} (as Xpedx)

{{start date and age |2014|07|01}} (as Vertitiv)

| location = Atlanta, Georgia

| key_people = Salvatore A. Abbate, CEO
J. Scott Palfreeman, CFO

| revenue = {{decrease}} $6.345 billion (2020)

| net_income = {{increase}} $34 million (2020)

| assets = {{decrease}} $2.335 billion (2020)

| equity = {{increase}} $583 million (2020)

| owner = {{ubl|Clayton, Dubilier & Rice {{smaller|(2023–present)}}}}

| num_employees = 6,400 (2020)

| subsid = Unisource Worldwide

| homepage = {{URL|https://www.veritiv.com/}}

| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1599489/000159948921000003/vrtv-20201231.htm | title=Veritiv Corporation 2020 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}

}}

Veritiv Operating Company (formerly Veritiv Corporation, a.k.a. "Veritiv") is a business-to-business provider of packaging, publishing, and hygiene products. Headquartered in Sandy Springs, Georgia, part of the Atlanta metropolitan area, it has 125 operating distribution centers throughout the United States and Mexico.

The company is ranked 412th on the Fortune 500.{{Cite web | url=https://fortune.com/company/veritiv/fortune500/ |title=Fortune: Veritiv | website=Fortune}} While Mary Laschinger was the CEO, it was the largest woman-run company in Georgia.

History

Veritiv was established on July 1, 2014 upon the merger of International Paper Company's xpedx division with the parent company of Unisource Worldwide, at which time International Paper Company completed corporate spin-off of the company.{{Cite news | url=https://www.bizjournals.com/memphis/news/2014/06/11/merged-xpedx-and-unisource-company-will-be-veritiv.html | title=Merged xpedx and Unisource company will be Veritiv | first=Michael | last=Sheffield | work=American City Business Journals | date=June 11, 2014}}

In August 2014, the firm leased its headquarters, in Sandy Springs, Georgia, from Cousins Properties.{{Cite news | url=https://www.bizjournals.com/atlanta/real_talk/2014/08/veritiv-to-relocate-hq-to-sandy-springs.html | title=Veritiv to relocate HQ to Sandy Springs | first=Douglas | last=Sams | work=American City Business Journals | date=August 12, 2014}}{{Cite news | url=https://www.ajc.com/business/veritiv-put-sandy-springs/TzUnwX7iGV5bKunyxw8TWJ/ | title=Veritiv to put HQ in Sandy Springs | first=J. Scott | last=Trubey | work=The Atlanta Journal-Constitution | date=December 4, 2014}} In September 2017, it acquired All American Containers, its first acquisition.{{Cite news | url=https://www.bizjournals.com/atlanta/news/2017/09/05/georgias-woman-run-company-makes-first-acquisition.html | title=Georgia's largest woman-run company makes first acquisition since going public | first=Eric | last=Mandel | work=American City Business Journals | date=September 5, 2017}}{{Cite news | url=https://www.ajc.com/business/veritiv-acquires-all-american-containers/SCCUiQO27BddUGt89BbXXJ/ | title=Sandy Springs-based Veritiv acquires All American Containers | first=Kelly | last=Yamanouchi | work=The Atlanta Journal-Constitution | date=September 5, 2017}}

In 2020, during the COVID-19 pandemic, the company underwent a restructuring plan and cut its workforce by 15%.{{Cite news | url=https://www.bizjournals.com/atlanta/news/2020/12/21/atlantas-veritiv-corp-to-expand-restructuring-p.html | title=Atlanta's Veritiv Corp. to expand restructuring plan, cost may hit $100M | first=David | last=Allison | work=American City Business Journals | date=December 21, 2020 | url-access=subscription}} In September, CEO Mary Laschinger retired and was replaced by Salvatore A. Abbate.{{Cite news | url=https://www.bizjournals.com/atlanta/news/2020/09/21/veritiv-ceo-mary-laschinger-to-retire.html | title=Veritiv CEO Mary Laschinger to retire, successor picked | first=Grace | last=Donnelly | work=American City Business Journals | date=September 21, 2020 | url-access=subscription}}

In November 2023, the company was acquired by Clayton, Dubilier & Rice. {{Cite news | url=https://www.prnewswire.com/news-releases/cdr-completes-acquisition-of-veritiv-corporation-302002164.html | title=CD&R Completes Acquisition of Veritiv Corporation | work=PR Newswire | date=November 30, 2023}}

References

[https://finance.yahoo.com/news/veritiv-agrees-sell-canadian-operations-150239661.html Veritiv Agrees To Sell Canadian Operations To Imperial Dade For Undisclosed Sum]