Central National-Gottesman Acquires Frank Parsons's Fine Paper Division

PURCHASE, N.Y., Oct. 5 /PRNewswire/ -- Central National-Gottesman Inc. (CNG) today announced that its Lindenmeyr Munroe division has acquired the assets and business of Frank Parsons's Fine Paper Division, one of the mid-Atlantic region's leading independent paper merchants. The purchase includes Frank Parsons's entire fine paper operation, which serves seven U.S. markets and consists of locations in or near Baltimore, MD, Washington, DC, Lynchburg, VA, Norfolk, VA, Richmond, VA, Harrisburg, PA, and Pittsburgh, PA. Also included in the sale are six wholesale paper stores.

"The Frank Parsons Fine Paper division occupies a premier position, both in terms of sales and reputation," said Ken Wallach, Chairman and Chief Executive Officer of Central National-Gottesman Inc. "We feel very fortunate to be able to add the fine group of professionals joining us from Frank Parsons to our existing mid-Atlantic sales and support team. The combined organization will enable us to offer our customers an unparalleled level of service and positions us for continued growth in the region. This acquisition, which is expected to double our mid-Atlantic sales, demonstrates our continued commitment to expanding our fine paper distribution business, both internally and through strategic acquisitions."

Founded in 1886 and headquartered in Purchase, New York, Central National-Gottesman Inc. is a leading international marketer of pulp and paper. The company has sales offices in 28 U.S. cities and 20 countries worldwide. CNG operates several divisions, including Central National, a global provider of pulp, paper and packaging, and Lindenmeyr, the largest independent paper distributor in the United States, supplying paper to a wide variety of customers, including corporations, commercial printers and magazine, catalogue, and book publishers.  CNG is committed to environmental sustainability and holds certifications from FSC, SFI, and PEFC.  The company's sales of pulp and paper exceed $3.5 billion annually. To learn more, please visit www.cng-inc.com.

SOURCE Central National-Gottesman Inc.