The US packaging specialist Veritiv has acquired the distribution business of S. Walter Packaging Corp. Veritiv is thus expanding its range of high-quality brand and retail packaging.
Veritiv Operating Company, a provider of specialty packaging, facility solutions and print products, announces the acquisition of the packaging distribution business of S. Walter Packaging Corp. Founded in 1904, S. Walter specialises in custom packaging for markets such as retail, foodservice, grocery and fashion and employs approximately 110 people at its Trevose and Shoemakersville, Pennsylvania locations.
According to Veritiv CEO Sal Abbate, the acquisition fits in with the strategy of expanding the core business with speciality packaging and growing in the retail packaging segment in particular. S. Walter brings with it a long-standing customer base, which will enable Veritiv to further expand its position in the premium segment with more speed, customisation and innovation.
According to the company, the deal complements its existing distribution activities and strengthens its direct-to-store services as well as its capabilities in multi-brand kitting and premium packaging. Veritiv aims to further consolidate its role as a provider of integrated solutions for brands and retailers.
The merger is also viewed positively at S. Walter. Chief Operating Officer Rob Cunningham spoke of an „exciting new chapter“ in which Veritiv's strengths in distribution, automation, design and fulfilment will extend the company's reach. Gordon Summerfield, Senior Vice President Sales and Marketing, emphasised the opportunities that the combination of the two companies would create for customers.
Classification
According to Veritiv, the acquisition strengthens its profile in a segment that is increasingly characterised by premium and sustainability requirements. For brands and retailers, the bundling of distribution, design and fulfilment offers the opportunity to tailor packaging solutions more closely to customer needs.
Source: Veritive
