CD&R to Buy Packaging & JanSan Distributor Veritiv for $2.3B - Modern Distribution Management

Log In

CD&R to Buy Packaging & JanSan Distributor Veritiv for $2.3B

It's just CD&R's latest major investment in the B2B distribution space.

On Aug. 7, packaging, facility solutions and print products distributor Veritiv Corporation announced that it had reached a deal with the private investment firm in which an affiliate of CD&R will acquire Veritiv for approximately $2.3 billion.

With 2022 revenue of $7.1 billion, Veritiv appeared on MDM’s 2023 Top JanSan Distributors List (unranked).

The deal represents a 31% premium over Atlanta-based Veritiv’s 30-day average stock price of $129.89 and about a 20% premium over Aug. 7’s closing price of $141.21. Each share of Veritiv common stock will be entitled to receive $170 in cash immediately following transaction closing, which is expected in 2023’s fourth quarter.

MDM’S SHIFT Conference, held Sept. 18-20 in Denver, brings together distribution leaders to learn and network across topics of sales & marketing, digital transformation, data analytics and talent management. Find more info here.

“This agreement is a pivotal moment in Veritiv’s history,” Veritiv Chief Executive Officer Sal Abbate said in a news release. “CD&R’s interest in our company is a testament to our team’s hard work, innovation and dedication. Fueled by this partnership, we will continue to evolve towards our greatest potential, delivering innovative and sustainable solutions to our customers today — and into the future.”

The deal is contingent upon shareholder approval and other customary closing conditions.

Packaging products accounted for 55% of Veritiv’s 2022 revenue, followed by Print Solutions at 34% and Facility Solutions at 11%. The company had $338 million in 2022 net profit; $518 million in adjusted EBITDA and 7.2% adjusted EBITDA margin.

Veritiv ended 2022 with approximately 5,000 employees across 95 distribution centers.

Veritiv reports its 2023 second quarter financial results on Aug. 8.

The deal marks just the latest distribution sector major investment for CD&R. Here’s a rundown of the recent acquisitions the firm has made in the industries MDM covers: 

  • In 2021, the firm bought Wolseley UK from Ferguson for $417.5 million; 
  • In 2020, CD&R bought enterprise software giant Epicor for $4.7 billion 
  • Also in 2020, CD&R bought White Cap from HD Supply for $2.9 billion, later combining it with fellow distributor Construction Supply Group to form present-day White Cap — No. 10 on MDM’s 2023 Top Industrial Distributors List and No. 8 for Building Materials/Construction distributors; 
  • In 2017, CD&R bought HD Supply’s Waterworks division for $2.5 billion and rebranded it as Core & Main — No. 9 on MDM’s Top Industrial Distributors and No. 1 for Industrial PVF;
  • Also in 2017, CD&R bought SunSource — No. 2 on MDM’s Top Fluid Powers distributors or an undisclosed amount

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.