One of metro Atlanta’s largest corporations announced this week it will acquire an Australian company’s North American operations as part of a $1.2 billion deal.
Sandy Springs-based Veritiv, a specialty packaging and distribution giant, entered into a binding agreement with Orora Packaging Solutions to buy the company’s North American division. The transaction is expected to close in the fourth quarter of this year, according to a Tuesday news release.
The acquisition comes on the heels of a busy past 12 months for metro Atlanta’s packaging and logistics industry, of which Georgia acts as a national leader.
Last year, Veritiv transitioned from a public company to private equity ownership in a $2.3 billion deal. And earlier this summer, Sandy Springs-based WestRock completed a $20 billion international merger with Dublin-based Smurfit Kappa. Metro Atlanta is also the corporate home to other Fortune 500 logistics and packaging companies including UPS and Graphic Packaging.
“The combination of Veritiv and Orora Packaging Solutions will significantly enhance the value we deliver to our customers,” Sal Abbate, Veritiv’s CEO said in the release. “By uniting two successful players with a shared commitment to innovation, sustainability and exceptional customer experiences, we are poised to offer a wide range of products and value-added solutions that meet even the most complex packaging and supply chain needs.”
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