Unisource Worldwide signs letter of intent with International Paper
NORCROSS, GA — Unisource Worldwide is engaged in exclusive talks with International Paper regarding a proposed transaction in which its xpedx distribution business would be combined with Unisource, according to a press release.
Unisource and xpedx are leading, complementary, business-to-business distributors of printing paper, packaging and facility supplies, the release stated.
According to the release, the discussions were initiated after Unisource approached International Paper about the potential business combination, and on April 19, 2013, the parties entered into a non-binding letter of intent to explore a possible transaction.
Unisource will continue doing business as usual until a proposed deal is closed; if no transaction is completed, Unisource will remain a private company, the release noted.
Combining the two businesses would enable an expanded geographic reach to important regions of the world, and further optimize and strengthen the supply chain, resulting in better customer service, the release added.
Click here to read the release in its entirety.