Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Veritiv Agrees To Sell Canadian Operations To Imperial Dade For Undisclosed Sum

  • Veritiv Corp (NYSE:VRTV) has agreed to sell its Veritiv Canada, Inc. business to Imperial Dade. Deal terms were not disclosed.
  • Veritiv's ~900 employees in Canada will become employees of Imperial Dade.
  • Veritiv will use net proceeds from the transaction to support its recently announced $200 million share repurchase program and future capital priorities and growth initiatives.
  • "This sale aligns with our strategy to focus on higher growth, higher margin businesses and geographies, and further invest in building on our industry-leading Packaging and Facility Solutions capabilities," commented Sal Abbate, Veritiv's CEO.
  • The company expects to close the deal before the end of the second quarter.
  • Price Action: VRTV shares are trading lower by 0.39% at $125.54 on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.