Central National-Gottesman Inc. (CNG) Adds Spicers Canada to Growing Distribution Business
PURCHASE, N.Y., Feb. 10, 2015 /PRNewswire/ -- Central National-Gottesman Inc. (CNG), a leading global distributor of pulp, paper and forestry products, announced today the expansion of its North American distribution business, adding Spicers Canada to its growing portfolio of regional paper merchants.
Headquartered in Vaughan, Ontario, Spicers Canada is one of the country's primary distributors of fine paper, sign and display media, industrial packaging and graphic arts supplies. The company operates 15 warehouse locations throughout Canada, as well as sheeting facilities and cash-and-carry stores serving local markets.
"Spicers Canada has a very strong competitive position in the market, reflecting its scale, deep set of service capabilities and exceptional leadership," said Andrew Wallach, CNG President and Chief Executive Officer. "We are looking forward to working with [president] Cory Turner and his team to build upon the company's excellent reputation and market leadership."
A subsidiary of Australia-based PaperlinX Limited, Spicers Canada has been in business for more than 70 years. The company will continue to operate independently to ensure continuity with its distinct customer service, suppliers and nearly 500 employees.
Spicers Canada represents the eighth acquisition of a regional paper merchant since 2010 for CNG's North American distribution division and is expected to add approximately C$400 million in annual sales.
"This transaction is an excellent fit with our existing strategy to grow organically and through strategic acquisitions," added Ken Wallach, CNG's Executive Chairman. "We believe it demonstrates our enduring commitment to the paper distribution business in North America."
Spicers Canada joins CNG merchants Lindenmeyr Munroe, Spicers Paper (US) and Kelly Paper in the company's Distribution Group. The deal is expected to close at the end of February pending approval by the Competition Bureau of Canada.
About Central National-Gottesman Inc.
Central National-Gottesman Inc. (CNG) is a $5 billion, global marketer of pulp, paper, tissue, packaging and plywood. Founded in 1886 and headquartered in Purchase, NY, CNG operates through established industry entities in its Distribution, Publishing Papers and International divisions, building on more than 125 years of family ownership, market knowledge and adaptability to create value for clients around the world. To learn more, please visit www.cng-inc.com.
SOURCE Central National-Gottesman Inc.
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